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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>

博时中证全指电力公用事业ETF

鹏华中证全指公用事业ETF

华夏中证绿色电力ETF

长和

广发中证全指电力ETF

长和(ADR)

惠誉评级已将长和的信用评级从 A-上调至 A，原因是其债务管理改善和现金流稳定。尽管巴拿马运河合同被取消以及中东冲突持续，惠誉认为地缘政治风险可控，且对财务影响有限。惠誉预计，随着资产出售（包括拟议中的英国电力网络出售），公司将实现稳定的盈利增长和持续的债务减少。公告发布后，长和在香港的股价上涨了 0.4%

随着信贷担忧的缓解，惠誉上调了长和 (ADR) 的评级