For the first time, Fitch Ratings and Moody's have assigned Anhui Conch Cement Company Limited's (Conch) Long-Term Foreign-Currency Issuer Default Rating (IDR) and senior unsecured rating of 'A-' and A3 . The rating outlook is Stable.

  The geographically diversified operations, low-cost advantages, strong financial profile and improving market dynamics, in Fitch's opinion, are the key driving factors in rating Conch cement of 'A-' and put Conch in a better position to cope with the current industry down-cycle.

  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,pointed out by Moody's.(translator:Huxiaohong)