Fitch revises Zijin view to positive

Fitch Ratings said it revised Zijin Mining Group Co., Ltd.'s outlook to positive from stable and affirmed the BB+ long-term issuer default rating.

“The positive outlook reflects Fitch's expectation that Zijin will maintain strong profitability in the next two to three years on higher production volume and commodity prices, with FFO net leverage trending below 2.5x from 2022,” the agency said in a press release.

Fitch noted Zijin’s ratings are constrained by its net leverage of 4.1x at the end-2020, but Fitch expects this to fall rapidly.

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