...+ The ratings on Haitong Bank S.A. benefit from our view that it is a strategically important subsidiary of Haitong Securities Co. Ltd. (###/Stable/A-2) and therefore that it can benefit from extraordinary financial assistance, if needed. + Haitong Bank's creditworthiness remains constrained by the challenges of turning around its business model. The weaker-than-peers asset quality and limited capital generation capacity also weigh on the bank's creditworthiness. + We are revising the outlook on Haitong Bank to negative from stable, and affirming the '##-/B' long- and short-term counterparty credit ratings. + The negative outlook reflects our view that we could lower our ratings if the management fails to deliver tangible and sustainable results in turning around its business model and improving its financial profile. MADRID (S&P Global Ratings) Aug. 2, 2017--S&P Global Ratings said today that it revised its outlook on Portugal-based Haitong Bank S.A. to negative from stable. We affirmed...
