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GCL-Poly Energy Holdings Outlook Revised To Negative, Ratings Affirmed; Ratings Then Withdrawn At The Company's Request Feb 12
Standard & Poors, Feb 2012
Abstract
HONG KONG (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services said today that it had revised its outlook on GCL-Poly Energy Holdings Ltd. to negative from stable. At the same time, we affirmed our 'BB+' long-term corporate credit rating on the China-based manufacturer of solar polysilicon and solar wafer. We also lowered our Greater China credit scale rating on the company to 'cnBBB' from 'cnBBB+'. We then withdrew all the ratings at the company's request. The outlook revision before the withdrawal mainly reflected our view that GCL-Poly would continue to face heightened industry risk in 2012. The global photovoltaic industry has been in severe downturn since the second quarter of 2011 due to weak demand and oversupply. The...
Companies mentioned in this report are: GCL-Poly Energy Holdings Ltd.
Action: Affirmed
Action: Outlook: Negative
Action: Withdrawn
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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