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S&P and Fitch Affirmed Ratings of Sinochem Entities
On November 10, 2021, Standard & Poor’s raised its long-term issuer ratings on ChemChina to “A-” from “BBB”. At the same time, it affirmed “A-” long-term issuer ratings on Sinochem HK, “BBB+” long-term issuer ratings on Sinochem International, and “BBB” long-term issuer ratings on Bluestar. It also revised the outlooks on these three entities to “stable” from “developing”. The stable outlooks reflected S&P’s view that Sinochem Holdings' credit quality will remain steady and the status and importance of these four rated entities to the parent will be stable in this period.
Earlier, Fitch Ratings affirmed Sinochem HK’s “A” ratings and “stable” outlook. It also upgraded ChemChina’s ratings to “A” from “A-” and assessed its outlook to be “stable”.
