Fitch affirms Wuhan Iron & Steel

Fitch Ratings said it affirmed Wuhan Iron & Steel Co., Ltd.'s long-term foreign- and local-currency issuer default ratings at BBB- and its short-term foreign- and local-currency issuer default rating at F3.

The outlook remains stable.

The ratings reflect Wisco's leading position as the largest silicon steel manufacturer and the only oriented silicon steel producer in China, its strong business profile and improving economics of scale, Fitch said.

Also supporting the ratings is its strong financial profile, which includes a low level of debt, ample liquidity and strong cash-generating capacity, the agency said.

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