Fitch revises Yuexiu Transport view to stable

Fitch Ratings said it revised Yuexiu Transport Infrastructure Ltd.’s outlook to stable from negative and affirmed the issuer and senior unsecured ratings at BBB-.

“The outlook revision reflects our expectation of a gradual easing in YXT's net leverage headroom in the next five years, driven by its strong post-pandemic revenue rebound and a more favorable macroeconomic environment. The policy for compensating YXT for the toll exemption implemented during the coronavirus pandemic has also become clearer. The rating affirmation is due to its robust expressway portfolio that is well-supported by its large commuter base, which has proven to be resilient to the coronavirus pandemic shock,” Fitch said in a press release.

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