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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>

博時中證全指電力公用事業ETF

鵬華中證全指公用事業ETF

華夏中證綠色電力ETF

長和

廣發中證全指電力ETF

長和(ADR)

惠譽評級已將長和的信用評級從 A-上調至 A，原因是其債務管理改善和現金流穩定。儘管巴拿馬運河合同被取消以及中東衝突持續，惠譽認為地緣政治風險可控，且對財務影響有限。惠譽預計，隨着資產出售（包括擬議中的英國電力網絡出售），公司將實現穩定的盈利增長和持續的債務減少。公告發布後，長和在香港的股價上漲了 0.4%

隨着信貸擔憂的緩解，惠譽上調了長和 (ADR) 的評級