Fitch Affirms ZTE's Debt Ratings; Withdraws Ratings
Published on: 3rd Nov 2015 Fitch Ratings has affirmed China based ZTE's Long Term Foreign and Local Currency debt ratings at 'BB '. The Outlooks are Stable. The agency has simultaneously withdrawn all the ratings. Fitch said that the ratings have been withdrawn as they are no longer considered by Fitch to be relevant to the agency's coverage because ZTE has no international public bonds outstanding and is no longer considered essential for its peer analysis or sector commentary. China's 4G Investment Fitch continues to believe that substantial 4G capex in China will be an opportunity for ZTE to repair its financial profile. We expect ZTE's stronger market position in China will allow it to take advantage of investments in 4G by Chinese telecoms operators in the next two to three years. However, ZTE is very dependent on China and the rating reflects that the company may need to reduce its dependence on Chinese telecoms capex before the cu...