Moody’s assigns Huaxin Cement, notes Baa1

Moody’s Investors Service said it assigned Baa1 ratings to Huaxin Cement Co., Ltd. and its planned bonds. Subsidiary Huaxin Cement International Finance Co. Ltd. will sell the notes that will be guaranteed by the parent.

“Huaxin Cement’s Baa1 rating reflects the company’s position as one of the leading cement producers in China, with a long operating history and strong position in its core markets,” said Gerwin Ho, a Moody’s vice president, senior credit officer and lead analyst on Huaxin, in a press release.

“Huaxin Cement’s good profitability and prudent financial management, as evidenced by its low-debt leverage, also support the Baa1 rating,” added Ho.

Huaxin Cement will use the proceeds for investments and general corporate purposes.

The outlook is stable.

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