Fitch rates China Everbright BBB

Fitch Ratings said it assigned a long-term issuer default rating of BBB to China Everbright Ltd., along with a short-term issuer default rating of F2.

The outlook is stable.

China Everbright is an asset-management company that is 49.74%-owned by China Everbright Group, Fitch said, and the group is wholly owned by the central government of China.

The ratings are driven by a belief that extraordinary support from China Everbright Group would be forthcoming in the event of stress as China Everbright Ltd. is considered a core subsidiary of the group, the agency said.

The company has a good credit profile due to its strong linkage with the Chinese sovereign, the government's 100%-ownership and its strategic role in supporting the nation's goal to establish a full-fledged integrated financial holding company, Fitch said.

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