HONG KONG (S&P Global Ratings) Sept. 28, 2016--S&P Global Ratings today said that its ratings on China Cinda Asset Management Co. Ltd. (Cinda: A-/Stable/A-2; cnAA/cnA-1) and China Cinda (HK) Holdings Co. Ltd. (Cinda HK: A-/Stable/A-2; cnAA/cnA-1) are unaffected by Cinda's recent issuance of preference shares. We have already factored the issuance into our assessment of Cinda's capitalization as moderate (after excluding the effects of consolidation with Nanyang Commercial Bank). The proceeds from the preference share issuance of Chinese renminbi (RMB) 21.25 billion (net of all underwriting expenses) are less than the originally proposed RMB30 billion. However, we maintain our moderate capital assessment, given Cinda's slower-than-expected asset growth and adequate earnings in the first half of 2016. The company's annualized return
