Reuters: Fitch – No rating impact on Winsway from Chalco’s acquisition

Fitch Ratings says Winsway Coking Coal (Winsway, ‘BB’/Stable) will not see immediate rating impact from Aluminium Corporation of China’s (Chalco, ‘BBB+’/Stable) proposed acquisition of a 29.9% stake in the former as the benefits will only accrue over the long-term. Fitch expects the acquisition, which will make Chalco Winsway’s largest shareholder, will enhance Winsway’s market position and competitiveness via Chalco’s stronger access to both funding and government support. Chalco’s stated commitment to expand into Mongolian coal mining could also increase Winsway’s utilisation of its logistics capacity. To read the full article, click hereFitch – No rating impact on Winsway from Chalco’s acquisition

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