Fitch affirms Vinci

Fitch Ratings said it affirmed Vinci SA's long-term issuer default rating and senior unsecured ratings at BBB+, short-term issuer default rating at F2 and subordinated hybrid notes at BBB-.

The outlook is stable.

The ratings reflect the satisfactory performance from the contracting business despite the financial crisis, Fitch said. The recent business segment increase is mainly driven by external growth, the agency said.

The Chinese construction industry is growing fast and some companies have reached a worldwide leadership position, Fitch said, but Vinci remains one of the strongest construction players in the world.

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