Research Update: China Cinda, China Orient, And Subsidiaries Ratings Affirmed On Sustained Government Support; Outlook Stable

We believe a potential transfer of controlling shareholdings in China Cinda Asset Management Co. Ltd. and China Orient Asset Management Co. Ltd. will not weaken their ties with the Chinese government. The two companies continue to play very important policy roles in resolving risks in China's financial system. We expect China Cinda and China Orient to continue to benefit from a very high likelihood of extraordinary support from the Chinese government over the next two years, if needed. We affirmed our 'BBB+/A-2' issuer credit ratings on China Cinda and our 'BBB/A-2' issuer credit ratings on China Orient. We also affirmed our issuer credit ratings on their subsidiaries. At the same time, we affirmed the issue ratings on the outstanding notes

...- We believe a potential transfer of controlling shareholdings in China Cinda Asset Management Co. Ltd. and China Orient Asset Management Co. Ltd. will not weaken their ties with the Chinese government. The two companies continue to play very important policy roles in resolving risks in China's financial system. - We expect China Cinda and China Orient to continue to benefit from a very high likelihood of extraordinary support from the Chinese government over the next two years, if needed. - We affirmed our '###+/A-2' issuer credit ratings on China Cinda and our '###/A-2' issuer credit ratings on China Orient. We also affirmed our issuer credit ratings on their subsidiaries. At the same time, we affirmed the issue ratings on the outstanding notes that the entities issued or guarantees. - The outlook on the long-term ratings is stable....

Research Update