We maintain our view that China Cinda has a very high likelihood of receiving extraordinary support from the Chinese government when in stress. We expect China Cinda to maintain its moderate capital and earning despite heightened economic risk in China. We are affirming our 'A-/A-2' issuer credit ratings on China Cinda and its wholly owned subsidiary Cinda HK. The stable outlook on China Cinda reflects our view that the group's non-bank business will maintain a leverage ratio slightly below 6.5x over the next 12-24 months. We also expect the China-based distressed asset manager to maintain asset quality in line with peers' and have manageable impairment charges on assets. On Oct. 26, 2017, S&P Global Ratings said that on Oct. 6,
