Key facts
- Fitch Ratings assigned sovereign-level credit ratings to China's largest power generators.
- These companies are state-owned enterprises (SOEs).
- Fitch views these SOEs as having significant influence on China's economy.
Fitch Ratings has elevated the credit ratings of China's largest power generation companies to match the country's sovereign rating. This decision underscores the strategic importance of these state-owned enterprises (SOEs) within the Chinese economic landscape. The agency recognizes that these companies play a crucial role in maintaining the stability and functioning of the national economy, warranting a rating equivalent to that of the Chinese government itself. This move signals strong implicit support from the state for these critical infrastructure entities.