Fitch affirms Beijing Infrastructure

Fitch Ratings said it affirmed Beijing Infrastructure Investment Co. Ltd.'s (BII; A+/stable) medium-term note program at A+.

BII increased the size of its program to $6 billion from $2 billion on June 24 to meet its funding needs for the development of the urban railway transit system in Beijing and as working capital as well as for general corporate purposes.

The increase in size of the program will not have material implications on the program's long-term rating of A+, given BII's ratings are mainly driven by the creditworthiness of Beijing Municipality.

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