Moody’s rates West China Cement notes B1

Moody's Investors Service said it assigned a B1 senior unsecured bond rating to West China Cement Ltd.’s proposed dollar-denominated senior notes.

The outlook is stable.

Proceeds will be used to refinance part of the company's outstanding $400 million, 7½% senior unsecured notes.

"WCC's debt leverage will not significantly increase with the proposed bond issuance because the company has indicated that it plans to use the proceeds to refinance part of its existing $400 million notes," Moody's vice president and senior analyst Franco Leung said in a news release.

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