Fitch ends watch on Yinchuan Tonglian

Fitch Ratings said it affirmed Yinchuan Tonglian Capital Investment Operation Group Co., Ltd.'s (YCTL) long-term foreign- and local-currency issuer default ratings at B+, and removed the ratings from rating watch negative. The outlook is stable.

“The removal of the RWN reflects our view that YCTL's debt structure has improved and the liquidity margin has recovered to some extent although the company still faces a tight funding environment,” Fitch said in a press release.

YCTL refinanced its offshore U.S. dollar bond due in 2023, eliminating immediate refinancing risk, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.