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RTNominal up14.520 +0.140 (+0.974%)

18/11/2019 17:52

Weichai Power outlook revised to positive; "BBB" affirmed

[ET Net News Agency, 18 November 2019] S&P Global Ratings revised its outlook on
China-based Weichai Power Co. Ltd (02332) to positive from stable and affirmed its 'BBB'
long-term issuer credit rating on the company.
The credit rating agency also affirmed its 'BBB' long-term issue rating on the senior
unsecured notes that the company guarantees and its 'BBB-' long-term issue rating on the
perpetual securities that the company guarantees.
S&P said Weichai has made good progress in improving its scale and business
diversification, after expanding its revenue and EBITDA by over 70% in 2016-2018 on the
back of strong market conditions and solid track record of integrating its acquisitions.
The agency expects the company to strengthen its competitive position by leveraging on
its solid technological capabilities under tighter emission regulations. It will also
benefit from a structural increase in demand for global supply chain solutions. (KL)

Remark: Real time quote last updated: 12/12/2019 17:59
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