Fitch affirms Sinochem Hong Kong

Fitch Ratings said it affirmed Sinochem Hong Kong (Group) Co. Ltd.'s long-term issuer default rating and senior unsecured rating at A.

The outlook is stable.

The agency said the ratings are derived from Fitch's internal assessment of the creditworthiness of Sinochem HK's parent, Sinochem Corp., under Fitch’s criteria.

“Based on this criteria, Sinochem Corp., which is indirectly wholly owned by China's State-owned Assets Supervision and Administration Commission of the State Council (Central Sasac), is assessed on a top-down approach from the Chinese sovereign (A+/stable),” the agency said in a news release.

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