[ET Net News Agency, 24 July 2020] S&P Global Ratings today revised its outlook on
Tingyi (Cayman Islands) Holding Corp. (00322) to positive from stable. At the same time,
the credit rating agency affirmed its 'BBB+' long-term issuer credit rating on Tingyi.
S&P said Tingyi's debt leverage has improved meaningfully over the past few years to net
cash from a combination of EBITDA growth, debt reduction, and strong free operating cash
flow.
The agency expects Tingyi's market share to be fairly stable over time and the company
should remain the market leader of instant noodles and beverages in China.
The positive outlook reflects the improvement in Tingyi's credit profile and S&P's
expectation that the company will remain prudent in its financial policy and acquisition
activity. (KL)
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00322 TINGYI
Nominal 
8.820 +0.180 (+2.083%) Others
24/07/2020 17:15
Tingyi's rating outlook revised to positive; "BBB+" affirmed
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