Fitch Upgrades China Metallurgical Group To 'BBB+'; Outlook Stable

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Fitch Upgrades China Metallurgical Group To 'BBB+'; Outlook Stable

(The following statement was released by the rating agency) HONG KONG/SHANGHAI, December 18 (Fitch) Fitch Ratings has upgraded China Metallurgical Group Corporation's (CMGC) Long. Term Issuer Default Rating (IDR) and its senior unsecured rating to 'BBB+', from 'BBB'. The upgrade is due to CMGC's enhanced strategic linkages with 100% parent, China Minmetals Corporation Limited (BBB+/Stable). Fitch has equalised CMGC's ratings with those of its parent using a top. down approach as per the agency's Parent and Subsidiary Rating Linkage criteria. The linkage reflects CMGC's strong operational and strategic ties with Minmetals.

Abstract Essence

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