Fitch says in a report leverage is one way the top 30 Chinese companies with foreign currency debt are the most exposed to further falls in the yuan. The six largest issuers of foreign currency debt have gross debt to ebitda below three times. In contrast, three natural resources companies, two property firms and one travel agency have gross leverage above 10 times, largely because of weak ebitda generation last year and rising gross debt. Their credit profiles could deteriorate should the yuan continue to depreciate and their ebitda generation remain at or below current levels. The resources firms were affected by a rout in commodity prices and this is likely to remain a negative factor this year.