Moody's assigns Huatai bonds Baa1

Moody's Investors Service said it assigned a Baa1 long-term backed senior unsecured rating to the proposed yuan-denominated bonds to be issued by Pioneer Reward Ltd. and guaranteed by Huatai Securities Co., Ltd.

Pioneer Reward is an indirect wholly owned subsidiary of Huatai Securities. Moody’s rates Huatai Baa1 with a stable outlook.

Huatai Securities will use the proceeds to support the development of its overseas business.

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