Moody’s ups Wanhua Chemical to stable

Moody's Investors Service said it changed the outlook on Wanhua Chemical Group Co., Ltd.'s issuer rating to stable from negative.

At the same time, the agency affirmed Wanhua Chemical's Baa3 issuer rating and the Baa3 rating of the senior unsecured notes issued by Wanhua Chemical International Holding Co., Ltd. and guaranteed by Wanhua Chemical.

"The stable outlook reflects our expectation that Wanhua Chemical's improved credit metrics will be sustained over the next 12-18 months," Lina Choi, Moody's vice president, senior credit officer and international lead analyst for Wanhua Chemical, said in a news release.

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