Fitch Upgrades Credit Rating on CSCI


(8 January 2014) China State Construction International Holdings Limited (“CSCI” or “The Group”, Stock Code: 03311) is delighted to be informed that Fitch upgraded Long-Term Issuer Default Rating and senior unsecured rating on CSCI from “BBB-” to “BBB”, outlook stable.

According to Fitch, the positive improvement of credit profile of China Overseas Holdings Limited, the direct controlling parent company of CSCI, resulted in the upgrade of CSCI’s ratings. In the mean time, Fitch said that CSCI maintained its solid order book growth and leading positions in the Hong Kong and Macau construction markets in the past year. Additionally, CSCI manages BT business risks appropriately, leading to the on time and in advanced BT repayment.

The upgrade will take effect on 8 January 2014.