Fitch affirms Zhejiang Provincial Energy

Fitch Ratings said it affirmed Zhejiang Provincial Energy Group Co. Ltd.'s long-term foreign currency issuer default rating and senior unsecured rating at A.

The outlook is stable.

The agency said the company’s ratings are aligned with Fitch's internal assessment of the creditworthiness of Zhejiang provincial government.

“Support from Zhejiang government has been strong enough to keep ZEG's standalone credit profile at a healthy level,” Fitch said in a news release.

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