Fitch gives Kunming Industrial BB+

Ratings said it published Kunming Industrial Development & Investment Co. Ltd.’s long-term foreign- and local-currency issuer default ratings of BB+.

“KIDI’s ratings are assessed under Fitch’s government-related entities rating criteria, reflecting the entity’s control and ownership by the Kunming municipal government, the government’s support record and expectations, as well as the socio-political and financial implications for the government should KIDI default,” Fitch said in a press release.

The outlook is stable.

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