Fitch lifts Delong to stable

Fitch Ratings said it revised Delong Holdings Ltd.'s outlook to stable from negative.

Its long-term issuer default rating was affirmed at B and a senior unsecured rating of B was assigned.

The outlook revision follows the release of its first-half of 2013 results, which showed its ability to generate positive free cash flow even under a sustained difficult operating environment, the agency said.

Delong continues to face a difficult operating environment over the medium term in the face of intense competitive pressure, persistent overcapacity and limited influence on raw material costs, Fitch said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.