S&P rates Kingboard Chemical BBB-

Standard & Poor's said it assigned its BBB- long-term foreign-currency corporate credit rating to Kingboard Chemical Holdings Ltd.

The outlook is stable.

The rating reflects the company's fast growth in the past three years, led by an experienced management team and financial results that have mostly met or exceeded our projections, S&P said.

Kingboard Chemical also benefits from strong positions in the laminate and printed circuit board sectors in China, vertical integration, low-cost production and diversified customer and supplier bases, the agency said.

Aggressive expansion is a key concern, heightened by the company's expansion plans in the chemicals segment, S&P added.

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