Fitch downgraded ratings of China's four national asset managers, citing easing expectation of government support

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Global rating agency Fitch Ratings downgraded the issuer default ratings (IDRs) of China's four largest national distressed asset management companies by one notch, reflecting weaker expectations of government support and and headwinds from a property market slump.

The ratings agency downgraded the IDRs of China Cinda Asset Management and China Orient Asset Management Co to ‘A-’ from ‘A’, while the ratings of China Huarong Asset Management Co Ltd and China Great Wall Asset Management . . .

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