Fitch puts China Orient, unit on watch

Fitch Ratings said it placed the A ratings on China Orient Asset Management (International) Holding Ltd. (Coamci) and the dollar bonds it guarantees on rating watch negative.

The RWN follows a similar action on Coamci’s parent China Orient Asset Management Co. Ltd., the agency said. Fitch placed the parent on RWN because it sees the company’s asset quality and profitability weakening.

Fitch said it expects to resolve the RWN on Coamci once it completes its review of the parent.

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