Moody’s: China Minmetals to stable

Moody's Investors Service said it changed the outlook on China Minmetals Corp.’s Baa1 issuer rating to stable from negative.

The agency also changed the outlook on the Baa1 ratings of the dollar-denominated bonds issued by Minmetals Bounteous Finance (BVI) Ltd. to stable from negative.

At the same time, Moody's affirmed the ratings.

"The change in outlook from negative to stable is driven by China Minmetals' improved leverage and our expectation that the company will continue deleveraging, such that its adjusted debt/EBITDA will fall below 7x in 2018," Chenyi Lu, Moody's vice president and senior credit officer, said in a news release.

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