Fitch Affirms China Hainan Rubber at BBB+, Outlook Stable; Shares Jump 5%

MT Newswires Live

08/18

Fitch Ratings affirmed China Hainan Rubber Industry's (SHA:601118) long-term issuer default rating at BBB+, with a stable outlook, the ratings agency said in a Monday press release.

The rubber company's ratings mirror those of its parent, Hainan State Farms Investment Holdings Group, whose standalone credit profile is rated at bb.

The rating agency expects that the company's linkage to the state-owned entity will remain unchanged.

Shares of China Hainan Rubber rose 5% in afternoon trade Monday.

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