ChemChina was upgraded by Fitch to A from A- with a stable outlook. The upgrade comes on the back of progress in the integration between ChemChina and Sinochem Holdings. Sinochem Holdings has assumed full control over ChemChina in terms of management, operations and finance, Fitch notes. Additionally, the share transfer and registration were completed in September 2021 with ChemChina now officially wholly-owned by Sinochem Holdings. Other positives for the upgrade were due to its “very strong socio-political impact” and its strategic importance to the agricultural sector.
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