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Prospect News home > News index > List of issuers B > Headlines for Baoji Investment (Group) Co., Ltd. > News item
Published on 7/14/2021 in the Prospect News Emerging Markets Daily.

Fitch puts various Chinese issuers on watch

Fitch Ratings said it placed the long-term foreign- and local-currency issuer default ratings on a number of Chinese public-sector government-related entities on rating watch negative. The respective bond issues of the GREs have also been placed on RWN.

“Defaults involving Chinese state-owned entities have increased in recent years, but they remain low compared with the number of such issuers. De-leveraging remains a core policy objective of the Chinese government to arrest financial risks, and the Chinese authorities' tolerance for defaults –– including at state-linked entities –– has increased,” Fitch said in a press release.

The issuers affected by the rating action are as follows: Baoji Investment (Group) Co., Ltd., Guangxi Liuzhou Dongcheng Investment Development Group Co., Ltd., Hainan State Farms Investment Holdings Group Co., Ltd. and debt issued by Hainan State Farms International (HK) Co., Ltd., Hubei Science Technology Investment Group Co., Ltd. and debt issued by Hubei Science & Technology Investment Group (Hong Kong) Co., Ltd., Jiangsu Fang Yang Group Co., Ltd. and debt issued by Haichuan International Investment Co., Ltd., Kunming Municipal Urban Construction Investment & Development Co., Ltd., Liuzhou Dongtong Investment & Development Co., Ltd., Taizhou Huaxin Pharmaceutical Investment Co., Ltd. and debt issued by Huaxin Pharmaceutical (Hong Kong) Co., Ltd., Xinjiang Zhongtai (Group) Co., Ltd., Yancheng Oriental Investment & Development Group Co., Ltd. and debt issued by Oriental Capital Co. Ltd. and Zhengzhou Airport Economy Zone Xinggang Investment Group Co., Ltd.

Fitch said it aims to resolve the RWNs as soon as practicable.


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