March 5, 2020 / 12:38 PM / a month ago

BRIEF-Fitch Says Policy Moves Ease Coronavirus Refinancing Pressure For Chinese Local Government Financing Vehicles

March 5 (Reuters) - Fitch:

* FITCH SAYS POLICY MOVES EASE CORONAVIRUS REFINANCING PRESSURE FOR CHINESE LOCAL GOVERNMENT FINANCING VEHICLES

* FITCH SAYS CHINESE LGFVS HAVE NOT SO FAR FACED TIGHTER ONSHORE FINANCING CONDITIONS AS RESULT OF CORONAVIRUS EPIDEMIC

* FITCH SAYS REFINANCING PRESSURES IN CHINESE LGFVS WOULD RISE IF EFFECTS OF CORONAVIRUS OUTBREAK ON ECONOMIC ACTIVITY REMAIN SUBSTANTIAL INTO H2/BEYOND

* FITCH SAYS CHINA GOVERNMENT SUPPORT WILL REMAIN A KEY RATING DRIVER FOR LGFVS, BOTH DURING AND AFTER CORONAVIRUS EPIDEMIC

* FITCH SAYS EPIDEMIC WILL WEIGH ON CHINA’S LOCAL GOVERNMENTS’ FISCAL REVENUE IN SHORT TERM, DUE TO LOWER-THAN-EXPECTED TAX INCOME, SALES OF LAND-USE RIGHTS Source text for Eikon:

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