...HONG KONG (S&P Global Ratings) Dec. 5, 2018--S&P Global Ratings today assigned its '###' long-term issue rating to the proposed euro floating rate and U.S. dollar fixed rate senior unsecured notes that Haitong Securities Co. Ltd. (Haitong: ###/Stable/A-2) proposes to issue. The issue rating is subject to our review of the final issuance documentation. We equalize the issue rating on the proposed notes with the long-term issuer credit rating on Haitong. This is because the notes constitute direct, unsubordinated, unconditional, and unsecured obligations of the issuer. They shall at all times rank at least equally with the company's present and future unsecured and unsubordinated obligations. Haitong will use the net proceeds from the euro floating rate notes for its ordinary course of business in domestic China, while it will use the net proceeds from the U.S. dollar fixed rate notes as capital injection into its oversea wholly owned subsidiary, Haitong International Holdings Ltd. The proposed...
