Fitch revises view on Zhejiang Expressway to negative

Fitch Ratings said it revised the outlook on Zhejiang Expressway Co., Ltd.'s long-term issuer default rating, senior unsecured rating and the rating of the $470 million 1.638% senior unsecured notes to negative from stable.

Fitch also affirmed all the ratings at A+.

The revision of the outlook follows the revision in the outlook on Zhejiang Communications Investment Group Co. Ltd.'s A+ rating to negative from stable on April 22, which was driven by the outlook revision of Fitch's internal credit assessment of the Zhejiang provincial government, Fitch said in a news release. Fitch revised the outlook on China's A+ Sovereign rating to negative from stable on April 9.

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