Moody’s: China Everbright Baa2

Moody’s Investors Service said it assigned Baa2 long-term and prime-2 short-term issuer ratings to China Everbright Ltd.

The outlook is stable.

This is the first time that Moody’s assigned ratings to the company.

The ratings reflect the company’s growing, but still limited position in the fragmented investment management sectors in China and Hong Kong, Moody’s said.

The ratings also consider its historically strong assets under management resilience and good profitability levels with steady revenues growth, the agency said.

These factors are partly offset by the company’s concentration into the China-focused market funds and higher level of investment risk compared to global peers, Moody’s said.

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