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Prospect News home > News index > List of issuers C > Headlines for Chongqing International Logistics Hub Park Construction Co., Ltd. > News item |
Fitch cuts Chongqing International
Fitch Ratings said it downgraded Chongqing International Logistics Hub Park Construction Co., Ltd.'s foreign-currency and local-currency issuer default ratings to BBB- from BBB.
Fitch also lowered Chongqing Logistics' $500 million of 3¼% senior unsecured note due September 2021 and $500 million of 4.3% senior unsecured note due September 2024 to BBB- from BBB.
“The downgrade follows a revision of Fitch's internal assessment on Chongqing municipality, reflecting the Chinese city's slowing economic growth and rising pressure on its budgetary performance,” Fitch said in a press release.
The outlook is stable.
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