BRIEF-Fitch Ratings Says Chinese Coal, Steel And Cement Firms To See Further Consolidation

BY Reuters | CORPORATE | 09/16/21 02:26 AM EDT

Sept 16 (Reuters) -

* FITCH RATINGS SAYS CHINESE COAL, STEEL AND CEMENT FIRMS TO SEE FURTHER CONSOLIDATION

* FITCH-EXPECT CHINA'S POLICYMAKERS TO FOCUS ON ELIMINATING UNCOMPETITIVE CAPACITY AND FINANCIALLY UNVIABLE PRODUCERS IN COAL, STEEL & CEMENT INDUSTRIES

* FITCH - FURTHER CHINESE COAL, STEEL, CEMENT SECTOR CONSOLIDATION LIKELY TO SEE WEAKER PRODUCERS EXITING MARKET OR BEING ACQUIRED BY LARGE LEADERS

* FITCH SAYS BELIEVE POLICYMAKERS WILL ENCOURAGE PRODUCTION CAPACITY TO MOVE TOWARDS RESOURCE-RICH AREAS

* FITCH ON CHINESE COAL, STEEL & CEMENT FIRMS - EXPECT CONTINUED CAPACITY CUTS TO SUPPORT STRONG COAL & STEEL PRICES OVER MEDIUM TERM Source text for Eikon:

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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