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By Jason Chau
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 CK Hutchison's progress in paring down debt earns it a credit rating upgrade from Fitch Ratings, which views the geopolitical risk facing the Hong Kong-listed conglomerate as manageable. 

 Fitch upgraded the company's credit rating to A from A- to reflect stable cash flow, continued deleveraging and a strong liquidity position. 

 Meanwhile, the cancellation of CK Hutchison's Panama Canal contract and the conflict in the Middle East are likely to have a limited direct impact, it said. 

 Earlier this year, Panama's Supreme Court voided CK Hutchison's contract to operate two ports at either end of the Panama Canal, allowing the government to seize the assets. 

 That cast uncertainty over the group's planned sale of most its port business, including the Panama ones, to a consortium that includes BlackRock. 

 Fitch placed CK Hutchison on ratings watch positive in March last year, when it announced the sale. However, progress has been slow amid geopolitical tensions, and the Panama developments raise further doubt, the ratings agency said. 

 It has removed CK Hutchison from the positive watch list, and sees the ratings outlook as stable. 

 Overall, the Panama ports' minimal contribution to group earnings and CK Hutchison's limited footprint in the Middle East suggest little financial impact, Fitch said. It estimates that ports in the region account for about 1% of total throughput. 

 Fitch expects steady earnings growth ahead for the company, and continued debt reduction from asset disposals, such as the proposed sale of U.K. Power Networks to French utility firm Engie. 

 Shares of CK Hutchison were last up 0.4% in Hong Kong. 
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 Write to Jason Chau at jason.chau@wsj.com 
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 (END) Dow Jones Newswires
March 06, 2026 01:44 ET (06:44 GMT)

Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div>

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Fitch Ratings has upgraded CK Hutchison's credit rating from A- to A, citing improved debt management and stable cash flow. The agency views geopolitical risks as manageable, despite the cancellation of a Panama Canal contract and ongoing Middle East conflicts having limited financial impact. Fitch expects steady earnings growth and continued debt reduction through asset sales, including the proposed sale of U.K. Power Networks. CK Hutchison's shares rose 0.4% in Hong Kong following the announcement.

Fitch Upgrades CK Hutchison as Credit Concerns Ease