Fitch might lower eHi Car

Fitch Ratings said it placed eHi Car Services Ltd.’s BB- long-term issuer default rating outstanding bonds and senior unsecured rating on rating watch negative.

Fitch said the negative watch reflects the reduced financial transparency and limited visibility over the company's long-term strategy following the proposed privatization of the company.

“eHi has not published its 3Q17 results, which are normally released in November each year. We understand that due to the ongoing privatization deal, the company will comply with minimum disclosure requirements and only publish annual reports,” the agency said in a news release.

“This reduces our ability to monitor the company's developments at a time where competitive pressure remains intense and liquidity appears tight.”

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