S&P affirms, withdraws LDK Solar's ratings

Sep 8, 2011 - S&P today affirmed its B+ long-term corporate credit rating with a "negative" outlook on Chinese photovoltaic firm LDK Solar (NYSE:LDK).

The service also removed the ratings from "negative" watch and downgraded the Greater China credit scale rating on LDK to cnBB- from cnBB to reflect the "negative" outlook.

The agency subsequently terminated the ratings at the company's request.

The rating affirmation captured expectations that LDK could maintain adequate liquidity and its cost competitiveness over global rivals in the next six to 12 months.

The "negative" outlook reflected continued pressure on the company's profitability and uncertain market conditions in 2012 and beyond, S&P added.

Rating agency website: www.standardandpoors.com

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