Moody's assigns first-time A3 rating to Anhui Conch Cement

Moody's Investors Service has assigned a first-time A3 issuer rating to Anhui Conch Cement Company Ltd. The rating outlook is stable.

"Conch's A3 rating reflects its leadership in the domestic cement industry, as demonstrated by its large production capacity and distribution networks, its strong earnings and ample cash flows, as well as sustained low debt leverage and disciplined capital spending throughout the industry cycle," said Franco Leung, a Moody's VicePresident and Senior Analyst.