Fitch Upgrades Sasa Polyester's Credit Rating

International credit rating agency Fitch Ratings has upgraded Sasa Polyester's credit rating from 'CCC' to 'B-'. The outlook has been assigned as 'Stable'. Fitch's upgrade decision was influenced by the completion of large-scale investments that strengthen the company's vertical integration and the contribution of these investments to profitability. The improvement in the credit rating reflects the recovery in Sasa Polyester's financial profile and the strengthening of its operational performance. Not investment advice.

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Fitch's credit rating upgrade could be considered a positive short-term catalyst for Sasa Polyester. However, the stock has fallen 4.76% in the last 24 hours and the RSI at 42.8 signals weak momentum. The MACD line is below the signal line (0.0337 < 0.0514) and the price is trading below the 20-day moving average (2.91). The impact of the rating upgrade news may be limited; if the close above the 2.80 level is sustained, reaction buying could be seen. Nevertheless, since the overall technical outlook is weak, the upside potential should be approached with caution.

RSI 14

42.8

MACD

0.03

24h Δ

-4.76%

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