By Amy Lam
HONG KONG (Jan 29) -- Fitch Ratings said it has sold its entire 49% equity interest in China Lianhe Credit Rating to Singapore's sovereign wealth fund GIC.
Beijing-headquartered credit rating agency China Lianhe Credit Rating was established in 2000, and Fitch has held a 49% equity stake in the venture since 2007, the international credit rating agency said. United Credit Ratings holds a 51% interest in China Lianhe, according to the agency's website. Terms of the deal were not disclosed.
Fitch said it will continue to operate its international credit rating business in the region, including through its offices in Beijing and Shanghai.
- By Amy Lam; firstname.lastname@example.org; +852 39605150
- Edited by Suzannah Benjamin
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