S&P affirms Guotai Junan

S&P said it affirmed its BBB+ long-term and A-2 short-term issuer credit ratings on Guotai Junan Securities Co. Ltd. and Guotai Junan International Holdings Ltd.

The outlook is stable.

The agency said the affirmed ratings reflect the company's continued very strong capitalization and prudent risk management and a moderately high likelihood of extraordinary support.

“We believe that the improved credit standing of the Shanghai municipal government will solidify its financial capacity to provide extraordinary support to GTJA if needed,” S&P said in a news release.

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