The delay in China Huarong Asset Management Co. Ltd.'s (CHAMC) release of its 2020 earnings adds uncertainty to the China Huarong group's stand-alone credit profile. We placed our 'BBB+' long-term and 'A-2' short-term issuer credit ratings on CHAMC and its subsidiaries, China Huarong Financial Leasing and China Huarong International Holdings, on CreditWatch with negative implications. We also placed the 'BBB+' long-term issue rating on Huarong International's guaranteed notes on CreditWatch with negative implications. We expect to resolve the CreditWatch in the next three months after we have more certainty on the group's stand-alone credit profile. On April 9, 2021, S&P Global Ratings placed its following ratings on CreditWatch with negative implications: The 'BBB+' long-term and 'A-2' short-term issuer credit ratings
