Fitch affirms Sinochem

Fitch Ratings said it affirmed Sinochem Hong Kong (Group) Co., Ltd.'s long-term foreign-currency issuer default rating and foreign-currency senior rating at BBB+.

The outlook is stable.

The agency said the rating is supported by the steadily improving performance of Sinochem's key businesses in energy, fertilizer and property. The rating is equalized with that of ultimate parent Sinochem Group, reflecting the high level of ties between the two entities, and is underpinned by potential state support for Sinochem Group.

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