Xinhua Far East China Ratings Downgrades the Issuer Rating of Shanghai Yaohua Pilkington Glass to BBB

Xinhua Far East China Ratings today downgraded the issuer credit rating of Shanghai Yaohua Pilkington Glass Co Ltd ("YPG" or "the Company") (SH A 600819;SH B 900918) from A+ to BBB.

The company's rating outlook remains stable.

The downgrade was prompted by Shanghai Yaohua Pilkington Glass Co Ltd's dramatically deteriorating operating and financial profiles since 2005 in a difficult operating environment characterized by overcapacity, macro-cooling policies and climbing costs. Meanwhile, the downgrade also reflects the management's inability to deal with market downturns and the company's significant loss of its original competitive advantage during the expansionary
development of China's glass industry. As a result, YPG's credit profile is no longer commensurate with its A+ rating.

Read the entire news on the source link below.

600450 Xinhua Far East China Ratings Downgrades the Issuer Rating of Shanghai Yaohua Pilkington Glass to BBB
Date: 29 June 2006

See more news about:

Others also read

Potters Industries Inc., an affiliate of PQ Corporation, announced today that, effective February 15, 2007, the price on all Metal Finishing Glass Bead and Ground Glass product shipments will increase up to 3 cents a pound.
Owners of Lincoln Glass in Newport, Dan and Elayne Mason, celebrated their 50th anniversary in the business this year. Dan's parents, John and Grace Mason, established Lincoln Glass in 1956 and oversaw day-to-day operations for 20 years.
Edward A. Shriver Jr., a Pittsburgh architect who works in retail store design, encourages architects and retail owners alike to "think outside the box," light years away from the designs that have dominated American retail architecture in recent decades.
Hoya Corp., Japan's largest optical glass maker, agreed to buy camera maker Pentax Corp. for 90.6 billion yen ($765 million) to add endoscopes and surgical scissors.
Strange specimens of natural glass found in the Egyptian desert are products of a meteorite slamming into Earth between 100,000 and 200,000 years ago, scientists have concluded. reported that Tarnaveni (Romania)-based Gecsat, estimates an approximately 6.4 million-euro turnover for this year, a 16% drop against last year, when the company posted a 7.6 million-euro turnover.

Add new comment