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Moody's says West China Cement unaffected
Moody's Investors Service said that West China Cement is unaffected by the Aug. 9 allegations from a short seller, the Glaucus Research Group, suggesting irregularities in the company's business operations, acquisitions and financing.
Following its provision of the information, trading in West China Cement stock resumed on the Hong Kong Stock Exchange.
Moody's said it believes that West China Cement's response has adequately addressed the concerns raised by Glaucus. Therefore, there is no pressure on its Ba3 corporate family and senior unsecured debt ratings, the agency said.
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