S&P lifts Haitong Securities view to stable

S&P said it revised the outlook on Haitong Securities Co. Ltd. and Haitong International Securities Group Ltd. to stable from negative.

The agency also said it affirmed the BBB long-term and A-2 short-term issuer credit ratings on Haitong and its Hong Kong subsidiary, Haitong International.

S&P also said it affirmed the BBB long-term issue ratings on the outstanding notes that these companies issued or guarantee.

In line with the outlook revision, S&P said it raised the long-term Greater China regional scale ratings on Haitong and Haitong International and the outstanding notes to cnA from cnA-.

The agency also affirmed the cnA-2 short-term Greater China regional scale ratings on both the companies and all the notes.

The outlook revision reflects the recent outlook revision on China's securities industry risk trend to stable, S&P said.

The agency said it now sees reduced risk of negative regulatory intervention that could hurt the creditworthiness of Chinese securities firms and believe the new prudential rules are more in line with banking supervision and further stabilize the sector from emerging risks.

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