Fitch Ratings has assigned China Resources Gas Group (HKG:1193)(CRG) a long-term foreign-currency issuer default rating (IDR) of "BBB+" with a "Stable" outlook and a foreign-currency senior unsecured rating of "BBB+". CRG's ratings indicates the profitability of its core gas distribution business in China, favourable growth prospects of the gas industry and CRG's strong financial profile.

The "Stable" outlook reflects the favourable government policy towards gas, Fitch said.