Fitch Upgrades Viability Ratings of China’s ‘Big Six’ Banks

Fitch Ratings upgraded the viability ratings of China’s “Big Six” state-owned banks Tuesday, citing regulatory improvements, stronger credit discipline and lower shadow banking risks.

The agency affirmed all six banks’ long-term foreign-currency issuer default ratings at “A,” with a stable outlook, and raised China’s banking operating environment score to “bbb” from “bbb-.”