Fitch puts Dongxing Securities on watch

Fitch Ratings said it placed Dongxing Securities Co., Ltd.'s long-term issuer default rating of BBB+ and shareholder support rating of bbb+ on rating watch negative.

The BBB+ rating on the outstanding senior unsecured notes issued by its wholly owned subsidiary, Dongxing Voyage Co. Ltd., and guaranteed by Dongxing Securities has also been placed on rating watch negative.

The rating action comes after Fitch placed the A rating on Dongxing Securities' parent, China Orient Asset Management Co., Ltd. (COAM), on rating watch negative on April 5.

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