Fitch Ratings has raised CK Infrastructure Holdings' (HKG:1038) long-term issuer default rating and senior unsecured rating to A from A-, with the outlook being stable, according to a recent release.

The rating agency also removed the ratings from Rating Watch Positive.

The move follows a similar action on parent CK Hutchison Holdings' (HKG:0001) ratings, with CK Infrastructure Holdings gaining from a one-notch uplift from its "a-" standalone credit profile.

Fitch sees the parent as having medium strategic and operational incentives to support the subsidiary.

The company's standalone credit profile stems from its history of operating and financial resilience through the cycle, supported by a disciplined strategy and continuous solid execution, Fitch said.

The company has steady and visible income from diverse regulated utilities and infrastructure investments in investment-grade territories, the rating agency said.

A negative rating action on the parent or an erosion in the company's standalone credit profile, given EBITDA net leverage of above 5x on a continued basis or dampened cash inflow quality from investments, could trigger a negative rating action, Fitch said.