S&P: Ming An Insurance unchanged

Standard & Poor's said its rating on Ming An Insurance Co. (Hong Kong) Ltd. (BBB/positive) would not be immediately affected by a recent announcement that Cheung Kong (Holdings) Ltd. (A-/negative) will acquire a 29% equity interest in the company.

The positive outlook on the rating on Ming An reflects expectations that the company's business and financial profile should improve, the agency noted.

In addition, its financial flexibility may strengthen after Cheung Kong becomes one of its major shareholders, S&P said.

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