Fitch cuts Datang to BB+

Fitch Ratings said it downgraded Datang International Power Generation Co., Ltd.'s long-term foreign-and local-currency issuer default ratings and senior unsecured ratings to BB+ from BBB- and its short-term foreign-and local-currency issuer default rating to B from F3.

The outlook is stable.

The downgrades reflect Fitch's reassessment of the company's linkages with controlling shareholder China Datang Corp, Fitch said.

The downgrades also consider the group's aggressive, largely debt-funded capital expenditure programs and weakened domestic electricity demand, the agency said.

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