Fitch cuts Yunan Metropolitan Construction

Fitch Ratings said it downgraded Yunnan Metropolitan Construction Investment Group Co., Ltd. and the ratings on its senior unsecured U.S. dollar notes to BBB from BBB+.

“The downgrade follows Fitch’s lower perception of Yunnan province’s ability to provide legitimate support to YMCI after reviewing the province’s creditworthiness under its revised Rating Criteria for International Local and Regional Governments, published in April 2019. Linkage between YMCI and Yunnan province remains unchanged,” the agency said in a press release.

All ratings have been removed from rating watch negative.

The outlook is stable.

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