Delayed results disclosure and uncertainty around a relevant transaction continue to weigh on our ratings on China Huarong group, despite timely repayments of recently matured debts. We kept our 'BBB+' long-term and 'A-2' short-term issuer credit ratings on China Huarong Asset Management Co. Ltd. and its subsidiaries, China Huarong Financial Leasing Co. Ltd. and China Huarong International Holdings Ltd., on CreditWatch with negative implications. Our 'BBB+' long-term issue rating on Huarong International's guaranteed notes also remain on CreditWatch with negative implications. We expect to resolve the CreditWatch in the next three months after we have more clarity on the relevant transaction, the group's performance, and the flow of government support, if any. On June 2, 2021, S&P Global Ratings kept
