Fitch downgrades Dalian

Fitch Ratings said it downgraded Dalian Deta Holding Co., Ltd.'s foreign- and local -currency issuer default ratings to BB+ from BBB-.

“The downgrade follows a change in Dalian Deta's shareholding structure that led us to lower our assessment of the attributes for status, ownership and control and the financial implications of default. We believe Dalian Deta's policy role remains unchanged, although the shareholding changes diluted the company's status as the flagship entity within Jinpu, a state-level new area in the city of Dalian,” Fitch said in a press release.

The outlook is stable.

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