Moody’s assigns first-time A3 rating
Published by Joseph Green,
Editor
World Cement,
Moody's Investors Service has assigned a first-time A3 issuer rating to Anhui Conch Cement Company Limited.
"Conch's A3 rating reflects its leadership in the domestic cement industry, as demonstrated by its large production capacity and distribution networks, its strong earnings and ample cash flows, as well as sustained low debt leverage and disciplined capital spending throughout the industry cycle," says Franco Leung, a Moody's Vice President and Senior Analyst.
The company ranks number two in China in term of cement production volume.
It operates 122 clinker (semi-finished cement) production lines using new dry-process production technology, including some of the largest and most advanced cement clinker production lines in the world.
Conch has a large number of clients across central, southern, eastern and western China, which supports its business stability, as cement demand and prices vary across different regions.
Edited from source by Joseph Green. Source: Moody's
Read the article online at: https://www.worldcement.com/asia-pacific-rim/12082015/moody-assigns-first-time-a3-rating-312/
You might also like
Ready to revolutionise the cement industry?
Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
RHI Magnesita announces acquisition of P-D Refractories
P-D Refractories recorded revenues of €171 million in the year to 31 December 2022 and had Gross Assets of €187 million at 31 December 2022.
