Fitch lowers China Mobile

Fitch Ratings said it downgraded China Mobile Ltd.'s long-term local-currency issuer default rating to A+.

The long-term foreign-currency issuer default is affirmed at A+.

The outlook is stable.

The downgrade follows a similar downgrade on China's sovereign rating, Fitch said.

The company's ratings are constrained by China's sovereign ratings as China Mobile is ultimately controlled by the Chinese sovereign, Fitch said.

China Mobile's standalone rating is AA- with stable outlook.

The company's ratings also consider its dominant position in China's mobile market and strong financial performance, the agency said.

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