Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers L > Headlines for Liangshan Development (Holdings) Group Co. Ltd. > News item |
Fitch cuts Liangshan Development
Fitch Ratings said it downgraded Liangshan Development (Holdings) Group Co., Ltd.'s long-term foreign- and local-currency issuer default ratings to BB from BB+. The outlook is stable.
All ratings were removed from rating watch negative.
The downgrade follows Fitch's reassessment of the sponsoring government, China's Liangshan Yi autonomous prefecture, in line with the agency's revised global rating criteria for international local and regional governments, the agency said.
The agency said it lowered its perception of Liangshan prefecture's ability to provide legitimate support to the company under the revised criteria.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.