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Moody's downgrades Winsway
Moody's Investors Service said it downgraded Winsway Coking Coal Holdings Ltd.'s corporate family rating to B2 from B1 and senior unsecured bond rating to B3 from B2.
The outlook is negative.
"The downgrades reflect Moody's expectation that Winsway will report a substantial operating loss for 2012, owing to weak coking coal prices in the second half of 2012 and the sluggish ramp up of its Canadian subsidiary," Moody's vice president and senior analyst Alan Gao said in a news release.
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