English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 2 December 2019, 15:57 HKT/SGT
Share:
S&P Global Ratings raises Huatai Securities & Huatai International Outlook to Positive

HONG KONG, Dec 2, 2019 - (ACN Newswire) - S&P Global Ratings last week (November 29, 2019) released a report revising its outlook on the long-term ratings on Huatai Securities Co. Ltd. (Stock Code: 6886.HK; "The Company") and its core subsidiary, Huatai International Financial Holdings Co. Ltd. (HTIF), to positive from stable, while also affirming the Company's 'BBB' long-term issuer credit ratings on both companies. S&P Global Ratings expects the Company to maintain its leading position in most of its businesses for the next 24 months as the company exhibits sound risk management as well as a strengthening capitalization.

"The outlook revision reflects our view that Huatai Securities' capital raising actions and new investment trading plan could enhance its capitalization sustainably." said the report. This statement rings true, as the Company's internationalization has greatly accelerated since the beginning of this year. In June 2019, the Company issued the first ever global depository receipt (GDR) under the London-Shanghai stock connect program to successfully list on the London Stock Exchange. Through the listing, the Company's net assets increased to RMB 116.82 billion, which further enhanced its foothold, visibility and participation in the global capital market. In July 2019, AssetMark, the turnkey asset management platform (TAMP) acquired by the Company in 2016, was successfully listed on the New York Stock Exchange, further strengthening the Company's capitalization and paving way for new international development.

This revised rating will help promote Huatai Securities' position within the global capital market, further reduce the cost of overseas financing, and create beneficial conditions for cross-border business. S&P Global Ratings also noted that the Company's rating could be further upgraded if the risk-adjusted capital (RAC) ratio could be sustainably above 15%. (As of June 30, 2019, the company's RAC ratio was 17.2%.)


Topic: Press release summary
Sectors: Daily Finance, Daily News
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

 

Latest Press Releases
Privity FZ LLE participates in Verofax pre-seed investment round  
July 5, 2020 18:00 HKT/SGT
Five Advisors With Focus Partner Firm Escala Partners Named to Australia's Top 100 Financial Advisers 2020 List  
July 3, 2020 11:00 HKT/SGT
NEC and JAMSTEC Develop AI-based System for Measuring Microplastics in the Ocean  
July 3, 2020 10:30 HKT/SGT
Gynesys Best Home Security Urges Businesses to Work with African-American Owned Commercial Security Firms in the Aftermath of CPI Security CEO's Remarks; Prepared to Work with Carolina Panthers, Charlotte Hornets to Replace CPI as Major Sponsor  
July 2, 2020 15:00 HKT/SGT
Singapore's Leading B2B Tech Event Stack Rescheduled to 2021  
July 2, 2020 10:52 HKT/SGT
MOG Recorded a YOY Earnings Growth for the year ended 31 March 2020 by leveraging its extensive retail network and strong brand recognition to capture new market opportunities  
July 2, 2020 08:25 HKT/SGT
Hua Medicine Announces Positive 24-Week Topline Results of Phase III Metformin Combination Trial of Dorzagliatin  
July 1, 2020 19:00 HKT/SGT
Black Wealth Matters Welcomes SEC Internal Investigation Into Racist Attack on Solomon Ali; Demands Transparency and Accountability  
July 1, 2020 15:00 HKT/SGT
Fujitsu Revamps Corporate Philosophy 'FUJITSU Way' to Achieve Our Purpose  
July 1, 2020 13:22 HKT/SGT
Remap-Cap to Partner With Eisai on Innovative Trial to Combat COVID  
July 1, 2020 13:02 HKT/SGT
More Press release >>
 Events:
More events >>
Copyright © 2020 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 400 879 3881 | Hong Kong: +852 8192 4922 | Singapore: +65 6653 1210 | Tokyo: +81 3 6859 8575