Fitch Ratings affirmed China Petroleum & Chemical's (Sinopec) (HKG:0386, SHA:600028) long-term foreign- and local-currency issuer default ratings at "A" with a stable outlook, according to a Thursday ratings commentary.

Fitch said Sinopec's ratings are closely aligned with those of its parent, China Petrochemical, which owns about 70% of Sinopec and has strong legal, strategic, and operational incentives to support it.

Sinopec's diversified operations and leading position in China's refining and marketing sectors support its credit profile, Fitch said.

The agency expects EBITDA to rise to 179 billion yuan in 2026 from 153 billion yuan in 2025, before easing to 166 billion yuan in 2027.