Fitch: Changchun Urban BBB+

Fitch Ratings said it assigned Changchun Urban Development & Investment Holdings (Group) Co. Ltd.’s long-term foreign- and local-currency issuer default ratings of BBB+.

The outlook is stable.

The company is credit-linked to Changchun municipality, Fitch said.

This is reflected in the company’s 100% government-ownership, strong municipal oversight on its financials and operations, integration with the government's general account and strategic importance of the entity's operation to the municipality, the agency said.

These factors result in a strong likelihood of extraordinary support to the company from the municipality, if needed, Fitch said.

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