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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.