Fitch has placed CK Hutchison Holdings' 'A-' rating on Positive Watch.

Fitch Ratings has placed the Long-Term Default Rating of CK Hutchison Holdings Limited (CKHH) at 'A-' on Positive Watch (RWP). This move follows the announcement of the sale of a significant portion of the company's port operations, expected to strengthen its credit profile.

The proposed transaction awaits approval from regulatory bodies and shareholders. CKHH's post-transaction credit profile will depend on how the company utilizes the cash proceeds from the sale. Fitch anticipates that CKHH's financial profile will improve after the transaction's completion, with potential cash proceeds exceeding $19 billion. The company's business profile is expected to remain diverse, generating stable cash flows from telecommunications, retail, and infrastructure sectors. CKHH's ratings are further supported by a management team with a long history of prudent financial management.