[ET Net News Agency, 3 January 2013] Moody's Investors Service has downgraded
Winsway Coking Coal Holdings Limited's corporate family rating to B2 from B1 and senior
unsecured bond rating to B3 from B2.
The ratings outlook is negative.
This action concludes the ratings review that commenced on 4 October 2012.
"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," said Alan Gao, a Moody's Vice President
and Senior Analyst.
"The downgrades also highlight concerns over the deterioration in Winsway's liquidity
position and the sustainability of its current business model during a prolonged commodity
down cycle," he added. (KL)
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01733 E-COMMODITIES
Nominal 
1.740 -0.030 (-1.695%) Others
03/01/2013 08:51
Moody's downgraded Winsway (01733) to B2; outlook negative
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