Fitch ups China Mobile (Hong Kong)

Fitch Ratings said it has upgraded China Mobile (Hong Kong) Ltd.'s long-term foreign currency issuer default rating to A from A-. The outlook is stable.

Fitch said its upgrade of China Mobile reflects the company's solid operating performance and further improved financial profile with consistently strong positive free-cash flow generation leading to reduced debt levels, a rising net cash position and very strong financial ratios.

The rating also reflects China Mobile's leading market share in China's mobile industry, which has experienced robust growth and continues to show good growth prospects, the agency noted.

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