Fitch puts Shenzhen International on watch

Fitch Ratings said it placed Shenzhen International Holdings Ltd.'s long-term issuer default rating on rating watch negative on higher revenue risk and regulatory uncertainty. This follows the Chinese authorities' decision to suspend toll collections for the country's road network.

The toll suspension is part of the government's efforts to expedite the resumption of business and recovery of supply chains in the wake of the coronavirus outbreak. The ministry of transport said the suspension took effect from midnight on Feb. 17 and will remain in place until the end of China's coronavirus containment measures.

The ministry indicated there will be compensation available for toll-road operators, but no details have been communicated.

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