Fitch Affirms Power Construction of China's BBB+ Rating
Fitch Ratings affirmed Power Construction of China's (SHA:601669) long-term foreign-currency issuer default rating and senior unsecured rating at BBB+, with a stable outlook. The rating agency attributed the engineering construction company's rating to strong government support through financing and capital injections, according to a Wednesday research note. Shares of the company slid 1% in recent trade.
Fitch Ratings affirmed Power Construction of China's (SHA:601669) long-term foreign-currency issuer default rating and senior unsecured rating at BBB+, with a stable outlook. The rating agency attributed the engineering construction company's rating to strong government support through financing and capital injections, according to a Wednesday research note. Shares of the company slid 1% in recent trade.