Fitch gives Huzhou Communications BBB-

Fitch Ratings said it assigned Huzhou Communications Investment Group Co., Ltd. long-term foreign and local currency issuer default ratings of BBB-.

The outlook is stable.

The agency said it believes the company is strategically important to Huzhou, a prefecture-level city in the north of Zhejiang province.

“The company is the city's sole transportation investment platform, operating and developing major toll roads and investing in railways on behalf of local government,” Fitch said in a news release.

“A default by the company could have moderate socio-political and very strong financial implications for the city.”

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