Fitch turns Beijing Capital view to negative

Fitch Ratings said it revised the outlook on Beijing Capital Group Co. Ltd.'s to negative from stable and affirmed the issuer default ratings at BBB. The agency also affirmed the company’s BBB senior unsecured rating.

Concurrently, Fitch changed the outlook on BCG Chinastar International Investment Ltd. to negative from stable and affirmed the ratings at BBB. The agency also affirmed Chinastar's senior unsecured rating at BBB.

“The revision of outlook reflects our view that BCG's stand-alone credit profile (SCP) of bb is under pressure following weak property sales sentiment, especially considering the group's large exposure in Tianjin, where demand is less robust, as well as an increase in contribution from the environmental-protection segment, which has a weaker credit profile,” Fitch said in a press release.

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