KUALA LUMPUR, July 24 -- Guotai Junan International Holdings Limited (Guotai Junan International, the Company) has announced that Standard & Poor’s (S&P) updated its credit rating report on the parent group Guotai Junan Securities and its subsidiary Guotai Junan International recently.
According to a statement, global credit rating agency, S&P has reaffirmed Guotai Junan International’s BBB+ long term and A-2 short-term issuer ratings with a stable outlook.
Early this year, Moody’s Investor Service also reaffirmed Guotai Junan International’s Baa2 long term issuer rating.
Currently, the Company enjoys an industry-leading credit rating level among Chinese securities companies in Hong Kong.
In the report, S&P states Guotai Junan International is a core subsidiary of the parent group Guotai Junan Securities and makes contribution to the parent to a relatively great extent. S&P equalised their ratings on Guotai Junan International with that on the parent.
It is also stated that the Company could benefit indirectly from potential extraordinary support from Shanghai government through the parent.
As the core international platform within the parent group, Guotai Junan International played an important role in sponsoring the parent’s Hong Kong IPO.
As at 2019-end, the parent group Guotai Junan Securities maintained its ownership of the Company at 68.48 per cent. It is expected that Guotai Junan International’s contribution to the parent will keep going up in the next one to two years.
More details at http://www.gtjai.com.
-- BERNAMA
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