Foster retains AA rating on convertible bonds

Hangzhou First Applied Material (SSE:603806) announced that its public issuance of convertible corporate bonds, known as “Foster 22 Convertible Bonds,” retains its AA credit rating with a stable outlook, as affirmed by United Credit Rating on June 3, 2025. This rating reflects Foster's leading position in the global photovoltaic film industry, supported by expanding production capacity, robust cash reserves, and a conservative debt profile. United Credit Rating's assessment acknowledges the potential impact of intensified competition within the photovoltaic sector on the company's profitability.