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Fitch Affirms China State Construction International at 'BBB+', Outlook Stable

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Fitch Ratings affirmed China State Construction International (HKG:3311) long-term issuer default and senior unsecured ratings at 'BBB+' with a stable outlook, according to a Thursday ratings commentary.

The ratings reflect CSCI's strong ties with its parent, China Overseas Holdings, and ultimate parent China State Construction Engineering (SHA:601668).

Fitch expects CSCI's revenue and EBITDA to decline in 2026 following a 23% year-over-year drop in the first half, although margins are expected to improve.

The ratings agency expects cash flow from operations to improve over the next few years, supported by stronger collections and a greater focus on projects in economically stronger regions.

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ASX:WEC