Standard & Poor“s Ratings Services said it has revised its outlook on China Glass Holdings Ltd. from stable to negative.
The service affirmed its “B+“ long-term corporate credit rating on the comp…
Standard & Poor“s Ratings Services said it has revised its outlook on China Glass Holdings Ltd. from stable to negative. The service affirmed its “B+“ long-term corporate credit rating on the company and its “B+“ issue rating on the company“s senior unsecured notes due 2012. “The outlook revision reflects our expectation that China Glass“ credit profile is likely to deteriorate as weakening global and domestic demand for glass products weakens the company“s profitability and cash flow generation in 2009”, said S&P credit analyst Lawrence Lu.