Fitch cuts Power Construction

Fitch Ratings said it downgraded Power Construction Corp. of China’s long-term foreign-currency issuer default rating and senior unsecured rating to BBB+ from A-.

Fitch also downgraded the ratings on the senior perpetual capital securities issued by PCCC's subsidiaries, DianJian Haiyu Ltd., Leader Goal International Ltd. and Dianjian International Finance Ltd., to BBB from BBB+.

Fitch lowered Power Construction’s rating based on scoring under Fitch's government-related entities rating criteria.

The outlook is stable.

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