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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.

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owned enterprise headquartered in Beijing, engaged in EPC , natural resources exploitation, papermaking, equipment fabrication, real estate development. MCC is one of the largest equipment manufacturers in China, and the only state. [1][2] On December 8, 2015, MCC merged into China Minmetals, becoming its wholly owned subsidiary.

Metallurgical Corp Of China On The Forbes Global 2000 List

Forbes is a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle.
business news, market analysis, company profiles, personal finance, management, entrepreneurship, investments, financial advice, economy, technology news .

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