Fitch Upgrades Hefei Industry Investment's IDR to 'BBB+'

Fitch upgraded state-owned Hefei Industry Investment Holding (Group)'s long-term foreign- and local-currency ratings or IDR to 'BBB+' from 'BBB', according to a Tuesday press release from the ratings agency.

The ratings agency also upgraded two of the company's bonds to 'BBB+' from 'BBB'. The bonds, which was issued by subsidiary Xianjin Industry Investment, were the senior unsecured $300 million 5.8% bond due 2026 and $500 million 4.75% bond due 2028.

Fitch revised its assessment of the Hefei municipal government's oversight of the company to 'very strong' from 'strong' because OF its strong decision-making role over HIIG's projects, which are in line with the Chinese province's economic agenda.

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Research96d ago

Mako Mining Initiated at Speculative Buy at Stifel Canada; Price Target at C$20.00

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Research96d ago

BofA Securities Upgrades Kilroy Realty to Buy From Neutral, Adjusts Price Target to $44 From $42

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Research96d ago

UBS Upgrades Dynatrace to Buy From Neutral, Raises Price Target to $60 From $36

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