S&P: Winsway Coking on watch

Standard & Poor's said it placed the B+ long-term corporate credit rating on Winsway Coking Coal Holdings Ltd. and the B+ rating on the company's senior unsecured notes on CreditWatch with negative implications.

The agency also placed the cnBB Greater China scale credit ratings on the company and its notes on CreditWatch with negative implications.

The CreditWatch placement reflects a view that Winsway's financial performance could further deteriorate over the next few quarters due to weak demand for steel and pressure on coal prices, S&P said.

The agency said it believes the company's financial performance for the first half of 2012 is likely to be worse than anticipated.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.