Moody’s rates Huarong bonds Baa1

Moody's Investors Service said it has assigned A3/P-2 long-term and short-term issuer ratings to China Huarong Asset Management Co., Ltd.

The agency also assigned a Baa1 rating to the proposed bonds to be issued by Huarong Finance Co., Ltd.

The outlooks are stable.

"China Huarong's A3 rating incorporates its ba3 stand-alone baseline credit assessment (BCA) and a six-notch uplift based on very strong likelihood of support from the Chinese government (Aa3 stable) in a stress situation," Moody's vice president and senior analyst Sonny Hsu said in a news release.

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