Fitch Ratings upgraded to A from A- the long-term foreign-currency issuer default and senior unsecured ratings of Contemporary Amperex Technology (SHE:300750, HKG:3750), or CATL, with a stable outlook.

CATL's upgrade is underpinned by a stronger business profile and resilient finances marked by high profitability, robust free cash flow generation and a deep net cash position, according to a Wednesday commentary.

The stable outlook reflects the rating agency's view that CATL's technology leadership and value-chain dominance will enable it to weather industry cycles and regulatory shifts while sustaining profitability amid cost and tariff volatility.

Shares of the battery maker were down 1% in recent trade on the Shenzhen and Hong Kong bourses.