Fitch publishes Sinochem at BBB+

Fitch Ratings said it published Sinochem International Corp.’s long-term foreign-currency issuer default rating and senior unsecured rating at BBB+.

The outlook is stable.

Fitch said Sinochem is rated one notch down from 55.76% parent Sinochem Group, which is in turn rated two notches lower than China's sovereign ratings (A+/stable) – in line with Fitch's parent and subsidiary rating criteria. Sinochem is the most important branch for the group's chemical segment – representing roughly 50% of revenue and a 90% net profit contribution to the group's chemical segment in 2016.

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