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Fitch Upgrades CKI HOLDINGS Long-term Issuer Default Rating to 'A' w/ Outlook Stable
Recommend 2 Positive 2 Negative 2 |
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Rating agency Fitch has upgraded CKI HOLDINGS (01038.HK)'s Long-Term Issuer Default Rating (IDR) and senior unsecured rating to 'A' from 'A-'. The Rating Outlook is Stable. At the same, Fitch has also removed CKI HOLDINGS' ratings from Rating Watch Positive. CKI HOLDINGS' 'A-' Standalone Credit Profile (SCP) reflects its record of operating and financial resilience through the economic cycle, underpinned by a prudent strategy and consistently strong execution, Fitch stated. The proposed disposal of UK Power Networks (UKPN) could bring approx. GBP4.2 billion in cash, which may raise CKI HOLDINGS' SCP if it can remain net cash. However, Fitch believed CKI HOLDINGS' acquisitive appetite, which brings uncertainties to its leverage and cash flow profile, constrains its SCP. AASTOCKS Financial News Website: www.aastocks.com |
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