Fitch affirms PetroChina

Fitch Ratings said it affirmed PetroChina Co. Ltd.'s long-term foreign-currency issuer default rating and foreign-currency senior unsecured rating at A+, as well as its short-term foreign-currency issuer default rating at F1.

The agency also said it affirmed the company's long-term local-currency issuer default rating and local-currency senior unsecured rating at AA- and short-term local-currency issuer default rating at F1+.

The outlook is stable.

The company continues to have many credit and operational metrics comparable to the top tier of international integrated oil and gas companies, Fitch said.

Under Fitch's rating methodology, the agency said it capped the company's ratings at those of the Chinese sovereign, which is the company's ultimate majority owner.

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