S&P rates Haitong Securities BBB, A-2

Standard & Poor's said it assigned a BBB long-term and A-2 short-term issuer credit rating to Haitong Securities Co. Ltd.

The agency also said it assigned cnA long-term and cnA-2 short-term Greater China regional scale ratings to the company.

The outlook is stable.

The ratings reflect the company's strong market position in China's retail brokerage segment and strong capitalization, S&P said.

These features contribute to Haitong's long track record of brokerage operations across business cycles, the agency said.

The company's risk management and revenue concentration offset these strengths, S&P said.

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