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Moody’s gives A3 to PowerChina
Moody's Investors Service said it assigned an A3 issuer rating to Power Construction Corp. of China (PowerChina).
The outlook is stable.
Moody’s said PowerChina's A3 issuer rating incorporates the company's baseline credit assessment of baa3 and a three-notch uplift for expected strong support from the Chinese government (Aa3 stable) in the event of financial stress.
"PowerChina's BCA of baa3 considers its large business scale, strong market position, and leadership in hydro projects in China," Moody's assistant vice president and analyst Jiming Zou said in a news release.
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