Fitch assigns Jimo Tourism BBB-

Fitch Ratings said it assigned Qingdao Jimo District Urban Tourism Development and Investment Co. Ltd.'s long-term foreign- and local-currency issuer default ratings of BBB-.

“Jimo Tourism is wholly owned by the Jimo State-owned Assets Operation and Service Centre and ultimately by the Jimo district government. The government exercises tight control over Jimo Tourism, as evident by its appoint of the board of directors and regular performance reporting,” Fitch said in a press release.

The outlook is stable.

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