Fitch could lower Wharf

Fitch Ratings said it placed Wharf (Holdings) Ltd.’s long-term issuer default rating of A- on Rating Watch Negative.

The senior unsecured rating of A- and ratings on the senior unsecured notes issued by Wharf Finance Ltd. were placed on negative watch.

Fitch said the actions follow Wharf's proposal to spin off the majority of its Hong Kong investment properties into a separately listed company, Wharf Real Estate Investment Co. Ltd. (Wharf REIC). The operations that remain, should the spin-off be completed, will not warrant an A- rating.

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