S&P Global Upgrades CHINAHONGQIAO Issuer Rating to "BB+"; Outlook Stable
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S&P Global upgraded CHINAHONGQIAO's long-term issuer credit rating to 'BB+' from 'BB', with a stable outlook. The upgrade reflects expectations of strengthened earnings driven by stable output and rising aluminum prices. S&P forecasts improved profitability, with EBITDA margins rising to 30-31% over the next two years and annual EBITDA increasing by 18-26%. The company's debt-to-EBITDA ratio is projected to remain below 1.5x.
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