S&P elevates Fufeng Group

S&P said it raised its long-term corporate credit rating on Fufeng Group Ltd. to BBB- from BB+. The outlook is stable.

“We upgraded Fufeng to reflect our view that the company will sustain its low debt leverage over the next 24 months, given its more conservative financial policy, stable profitability, and diversifying revenue base. We expect the company's cash flows to remain exposed to cash flow volatility owing to changes in prices of raw material such as corn kernels,” S&P said in a news release.

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