Moody’s rates Haitong notes Baa2

Moody's Investors Service said it affirmed Haitong International Securities Group Ltd.'s Baa2 long-term and P-2 short-term issuer ratings.

At the same time, Moody's affirmed Haitong International's standalone assessment at ba1.

Moody's also assigned a Baa2 long-term senior unsecured rating to the dollar-denominated bond to be issued by Haitong International.

The outlook is stable.

The agency said the affirmation incorporates the company's standalone assessment of ba1 and a two-notch uplift reflecting Moody's assumption that Haitong International will receive a high level of support from the Chinese government (A1 stable) via its parent, Haitong Securities Co., Ltd., in times of need.

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