Fitch rates Beijing State-Owned Assets notes A

Fitch Ratings said it published a long-term foreign-currency issuer default rating of A with stable outlook on Beijing State-Owned Assets Management Co., Ltd., along with a senior unsecured rating of A.

Fitch also said it assigned an expected A rating on Beijing State-Owned Assets Management (Hong Kong) Co. Ltd.’s proposed dollar-denominated senior notes.

The company is rated one level below the credit profile of the Beijing municipal government, which is equalized with the China sovereign, Fitch said.

Beijing State-Owned is closely linked to its parent, the Beijing State-Owned Assets Supervision and Administration Commission as evidenced by their very strong operational linkage, the agency said.

The company supports Beijing’s economic development, Fitch said, and undertakes political and social responsibilities.

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