Moody’s lifts Anhui Conch

Moody's Investors Service said it upgraded Anhui Conch Cement Co. Ltd.’s issuer rating to A2 from A3.

The outlook is stable.

"The upgrade reflects our expectation that Anhui Conch will maintain its leading market position, strong profitability and credit profile over the next two to three years, against the backdrop of supportive supply and demand dynamics in the cement industry," Gerwin Ho, Moody's vice president and senior credit officer, said in a news release.

Moody's said that supply-side structural reforms have been implemented in the Chinese cement industry, with producers exercising greater discipline in the supply and pricing of cement.

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