Fitch ups CK Hutchison Group Telecom

Fitch Ratings said it upgraded CK Hutchison Group Telecom Holdings Ltd.'s (CKHT) long-term foreign- and local-currency issuer default ratings to A- from BBB+ and removed them from under criteria observation.

Fitch also raised CKHT's senior unsecured rating and the senior unsecured rating of CK Hutchison Group Telecom Finance SA, a wholly owned subsidiary of CKHT, to A- from BBB+, and removed the ratings from UCO.

“The upgrade follows Fitch's new parent and subsidiary linkage criteria, published on Dec. 1, 2021. Under the new criteria, CKHT follows the ‘stronger parent’ path and benefits from the parent linkage with CK Hutchison Holdings Ltd. (CKHH, A-/Stable), and CKHT's ratings are equalized with those of its parent,” the agency said in a press release.

The outlook is stable.

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