Fitch Ratings upgraded Sinochem International on August 4, raising its long-term foreign currency issuer default rating and senior unsecured rating from BBB+ to A- with a stable outlook. This follows a previous AAA rating assigned by CCXI, marking another endorsement of the company’s creditworthiness in the capital markets.
Fitch highlighted Sinochem International’s strong liquidity and projected that declining raw material prices, higher utilization rates in its C3 industrial chain project, and the consolidation of Nantong Xingchen will support margin recovery over the coming years.
