S&P affirms Haitong Securities

S&P said it affirmed its BBB long-term and A-2 short-term issuer credit rating on Haitong Securities Co. Ltd. and Haitong International Securities Group Ltd.

The outlook is stable.

The agency also affirmed the ratings on all the senior unsecured debt that Haitong International issued.

“We affirmed our ratings on Haitong Securities because we expect the company to maintain strong capitalization, good business growth momentum and adequate earnings over the next 24 months,” S&P said in a news release.

The agency said it believes the credit standing of the Shanghai municipal government has improved and will solidify its financial capacity to provide extraordinary support to Haitong Securities if needed.

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