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01733 E-COMMODITIES
RTNominal up1.420 +0.040 (+2.899%)
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25/11/2013 09:09

Moody's upgrades Winsway (01733) to Caa3; outlook negative

[ET Net News Agency, 25 November 2013] Moody's Investors Service has upgraded to Caa3
from Ca the corporate family rating of Winsway Coking Coal Holdings Limited (01733).
At the same time, Moody's has affirmed the company's Ca senior unsecured debt rating.
The outlook for the ratings remains negative.
"The upgrade reflects Moody's expectation that the recovery prospects for Winsway's
creditors have improved following the completion of its exchange offer for the senior
notes due 2016 and because of its improved cash position due, in turn, to better inventory
management," said Alan Gao, a Moody's Vice President and Senior Analyst. (KL)

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