Fitch boosts Chalco

Fitch Ratings said it upgraded the long-term local-currency issuer default ratings of Aluminum Corp. of China Ltd. (Chalco) to A- from BBB+ and affirmed its long-term foreign-currency issuer default rating at BBB+, short-term local-currency and foreign-currency ratings at F2.

The outlook is stable.

The ratings reflect the strong linkages between Chalco, its fully state-owned parent - Aluminum Corp. of China (Chinalco) and its dominant market position in the country's base metal market, the strategic importance of metal to China's economic development.

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