Fitch Ratings: Awarding Western Cement (02233.HK) an "B(EXP)" Expected Long-Term Issuer Rating Outlook of "Stable"

On November 17th, Fitch Ratings awarded West China Cement Limited (abbreviated as "West China" 02233.HK) with an expected long-term issuer default rating of "B(EXP)" with a stable outlook. At the same time, they granted the company's proposed senior unsecured notes an expected rating of "B(EXP)" with a recovery rating of "RR4". The final rating will depend on the company's ability to successfully issue at least approximately $400 million in senior unsecured notes, which will be used to repay the existing $600 million notes due in July 2026.