OREANDA-NEWS. Fitch Ratings has assigned Chongqing Nan'an Urban Construction & Development (Group) Co., Ltd. (CQNA) Long-Term Foreign- and Local- Currency Issuer Default Ratings of 'BBB+'. The Outlook is Stable.

Linked to Chongqing Municipality: CQNA's ratings are credit-linked to, but not equalised with, the assessment of Chongqing Municipality's credit profile. Chongqing is one of four municipalities under the direct responsibility of China's central government. The link reflects strong government oversight and supervision of CQNA, moderate integration with the government budget and CQNA's public-sector business's moderate strategic importance to the municipality. The company is classified as credit-linked to the municipality under Fitch's Public-Sector Entity criteria. Fitch believes CQNA is likely to receive extraordinary support from the municipal government, if needed.