Fitch Affirms PetroChina's A Rating, With Stable Outlook

MT Newswires Live

07/22

Fitch Ratings affirmed PetroChina's (SHA:601857, HKG:0857) long-term issuer default and senior unsecured ratings at A, with a stable outlook.

The ratings align with those of parent CNPC under the rating agency's consolidated approach, citing open legal ringfencing and access controls, according to a Tuesday research note.

Fitch assesses the Chinese government's responsibility to support CNPC as "very strong" given its full state ownership, energy security role and robust finances.

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