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Moody’s assigns first-time A3 rating

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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

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