Fitch lowers Kunming Industrial Development

Fitch Ratings said it downgraded Kunming Industrial Development & Investment Co. Ltd.'s (KIDI) long-term local- and foreign-currency issuer default ratings to BB- from BB.

All of KIDI's ratings have been placed on Rating Watch negative.

The Rating Watch reflects decreasing financial flexibility over KIDI's refinancing of concentrated debt maturities in 2023 and uncertainty around the timing and amount of government's mobilization of fiscal and financial resources, Fitch said in a news release.

© 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.