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Financials Headlines

Fitch Upgrades China Metallurgical Group to 'BBB+'; Outlook Stable

(The following statement was released by the rating agency) HONG KONG/SHANGHAI, December 18 (Fitch) Fitch Ratings has upgraded China Metallurgical Group Corporation's (CMGC) Long-Term Issuer Default Rating (IDR) and its senior unsecured rating to 'BBB+', from 'BBB'. The Outlook on the IDR is Stable. At the same time, Fitch has upgraded CMGC's 59.18% owned subsidiary's - Metallurgical Corporation of China Limited (MCC) - Long-Term IDR and senior unsecured rating to 'BBB+' from 'BBB'. The Outlook