S&P rates Weichai Power BBB

Standard & Poor’s said it assigned a BBB long-term corporate credit rating to Weichai Power Co. Ltd., along with a cnA long-term Greater China regional scale rating.

S&P also said it assigned a BBB long-term issue rating and cnA Greater China regional scale issue rating to notes that the company guarantees.

The outlook is stable.

The ratings reflect an opinion that Weichai will maintain its strong position in the manufacturing of diesel engines in China, S&P said, along with an adequate business and geographic diversity over the next 12 to 24 months.

But the company’s profits are volatile due to cyclical demand in China’s heavy auto market, the agency added.

© 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.