Fitch upgrades Jiangxi Provincial Water

Fitch Ratings said it upgraded Jiangxi Provincial Water Conservancy Investment Group Corp.'s (JXWC) long-term foreign- and local-currency issuer default ratings to A- from BBB+. All the ratings have been removed from under criteria observation.

“The upgrade is the result of a reassessment of JXWC's key risk factors under Fitch's updated government-related entities (GRE) rating criteria and public policy revenue-supported entities rating criteria, published Jan. 12, 2024. The new GRE criteria have reframed and clarified the key rating considerations, and eliminated 'Moderate' and 'Weak' factor assessments,” Fitch said in a statement.

The outlook is stable.

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