Fitch affirms Kangde Xin

Fitch Ratings said it affirmed Kangde Xin Composite Material Group Co., Ltd.'s long-term foreign currency issuer default rating and senior unsecured rating at BB.

The outlook is stable.

“The affirmation reflects our expectation that KDX will maintain its net cash position in 2018 and beyond due to its stable operating performance,” the agency said in a news release.

“However, the company could potentially undertake a significant acquisition, which could result in rating changes. We will evaluate the effect on KDX's creditworthiness when we receive additional information on the potential transaction.”

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