S&P stabilizes Inner Mongolia Yili view

S&P said it revised the outlook for Inner Mongolia Yili Industrial Group Co. Ltd. to stable from negative and affirmed the A- issuer rating and the A- rating on the notes the firm guarantees.

“The outlook revision reflects Yili's commitment to maintaining low leverage while it pursues growth. We expect the company to rely largely on organic growth to achieve its goal to become one of the top three dairy firms in the world by 2025. While we believe acquisitions may happen, we expect the size of such acquisitions to not have a material impact on its leverage ratios. Should there be a large-scale acquisition or capital investment, we believe Yili will likely consider equity financing to manage its leverage,” S&P said in a press release.

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