S&P: China Fishery negative

Standard & Poor's said it revised its outlook on China Fishery Group Ltd. to negative from stable.

At the same time, the agency said it affirmed the B+ long-term corporate credit rating on China Fishery and the B+ issue rating on the company's senior unsecured notes.

In line with the outlook revision, the agency said it also lowered the long-term Greater China regional scale ratings on China Fishery and the notes to cnBB- from cnBB.

"We revised the outlook on China Fishery to reflect our view that the regulatory risk for China Fishery's Russian operations over the next six to 12 months could be significantly higher than we had earlier expected," said S&P credit analyst Lillian Chiou in a news release.

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