Fitch may cut Eastern Media

Fitch Ratings said it placed Eastern Media International Corp.'s BB long-term foreign-currency issuer default rating and BBB+(twn) national long-term rating on Rating Watch negative.

The watch reflects the potential deterioration to the company's liquidity profile in light of the impaired reputation caused by the chairman of the company, the agency said.

The watch also considers concerns on the likely impact in profitability and cash flow as a result of increased capital expenditure over its real estate investments and a reduced size of its bulk shipping fleet, Fitch said.

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