Fitch: Qingdao City Construction view now negative

Fitch Ratings said it revised the outlook on Qingdao City Construction Investment (Group) Ltd.’s foreign- and local-currency issuer default ratings to negative from stable and affirmed the ratings at BBB+.

“The revision in the outlook follows a change in Fitch's internal assessment of the outlook of the sponsor, Qingdao municipality, while our assessment of the key rating drivers is unchanged,” Fitch said in a news release.

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