Fitch trims Henan Airport Investment

Fitch Ratings said it downgraded Henan Airport Investment Group Co., Ltd.'s long-term foreign- and local-currency issuer default ratings to BBB- from BBB. The agency also lowered the senior unsecured bond rating to BBB- from BBB. The ratings have been removed from under criteria observation.

“The downgrade follows a rating review following the publication of Fitch's updated government-related entities (GRE) rating criteria on Jan. 12, 2024, and is driven by the revision of HAIG's rating approach under the new notching matrix in the updated criteria,” the agency said in a statement.

The outlook is stable.

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