ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Dec 02, 2019 16:57 JST
S&P Global Ratings raises Huatai Securities & Huatai International Outlook to Positive
HONG KONG, Dec 02, 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%.)
Sectors: Daily Finance, Daily News
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
DOCOMO to Launch "NTT DOCOMO GLOBAL" for Global Expansion
May 10, 2024 18:13 JST
Release of "Fugaku-LLM" - a large language model trained on the supercomputer "Fugaku"
May 10, 2024 12:20 JST
Paltalk, Inc. Reports Slight Increase in Revenue and 33% Reduction in Net Loss for First Quarter 2024
May 09, 2024 20:39 JST
Honda Opens New R&D Facility in Bengaluru to Accelerate Electrification in India
May 09, 2024 14:13 JST
Fujitsu introduces "explainable AI" for use in genomic medicine and cancer treatment planning
May 09, 2024 10:41 JST
Mitsubishi Heavy Industries Increases Dividends on Back of Historically High FY2023 Results, Releases FY2024 Guidance
May 08, 2024 14:27 JST
Rome becomes the first European city to offer open loop transit payments to JCB Cardmembers
May 08, 2024 12:00 JST
NEC X Invests in Public Safety Startup Multitude Insights, Scaling AI-Powered Collaboration and Information Sharing for Law Enforcement
May 08, 2024 10:24 JST
ServiceNow and Fujitsu announce strategic commitment to launch innovative cross-industry solutions
May 08, 2024 08:52 JST
Fujitsu launches mainframe modernization automation service for the Japanese market
May 07, 2024 17:53 JST
MHI Agrees to Collaborate with Chiyoda Corporation for Licensing of CO2 Capture Technologies
May 07, 2024 13:49 JST
Four-strong TOYOTA GAZOO Racing squad to push for more Portugal success
May 02, 2024 18:05 JST
Spectacular Spa awaits TOYOTA GAZOO Racing
May 02, 2024 17:46 JST
Q&M Dental Enhances Digital Capabilities by Integrating Align Technology's Newest iTero Lumina(TM) Intraoral Scanner Across Dental Clinics in Singapore
May 02, 2024 11:00 JST
Sumitomo Metal Mining and Mitsubishi Corporation to Participate in Kalgoorlie Nickel Project - Goongarrie Hub
Apr 30, 2024 19:08 JST
New Immuno-Oncology Research Project in Partnership With Merck Starts at the BioMed X Institute in Heidelberg
Apr 30, 2024 18:00 JST
SPARX Group Establishes Space Frontiers Second Fund
Apr 29, 2024 18:49 JST
MHI Establishes Local Subsidiary "Mitsubishi Heavy Industries Vietnam"
Apr 29, 2024 18:00 JST
POSCO Future M and Honda Reach Basic Agreement on Collaboration for Production of Cathode Materials for Automotive Batteries in Canada
Apr 29, 2024 14:25 JST
Honda Plans to Establish Comprehensive Electric Vehicle Value Chain in Ontario, Canada
Apr 29, 2024 14:16 JST
More Latest Release >>