Research Update: Haitong Securities 'BBB' Rating Affirmed, Outlook Remains Negative; SACP Lowered To 'bbb-' On Increased Market Exposures - S&P Global Ratings’ Credit Research

Research Update: Haitong Securities 'BBB' Rating Affirmed, Outlook Remains Negative; SACP Lowered To 'bbb-' On Increased Market Exposures

Research Update: Haitong Securities 'BBB' Rating Affirmed, Outlook Remains Negative; SACP Lowered To 'bbb-' On Increased Market Exposures - S&P Global Ratings’ Credit Research
Research Update: Haitong Securities 'BBB' Rating Affirmed, Outlook Remains Negative; SACP Lowered To 'bbb-' On Increased Market Exposures
Published Jul 27, 2016
7 pages (2488 words) — Published Jul 27, 2016
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

Haitong's market risk exposures have increased in a highly volatile market. We are therefore lowering the SACP on the company to 'bbb-' from 'bbb'. Our assessment of potential extraordinary support to Haitong from the Shanghai municipal government remains unchanged. Also, we expect HTI to remain a core subsidiary of Haitong and an indirect beneficiary of this support. We are affirming our 'BBB' long-term and 'A-2' short-term issuer credit ratings on Haitong and HTI and our 'cnA-' long-term and 'cnA-2' short-term Greater China regional scale ratings on the China-based securities firm and its Hong Kong-based subsidiary. The negative outlook continues to primarily reflect our view of heightening industry risk for the securities sector in China. On July 27, 2016, S&P Global

  
Brief Excerpt:

...Haitong's market risk exposures have increased in a highly volatile market. We are therefore lowering the SACP on the company to '###-' from '###'....

  
Report Type:

Research Update

Issuer
Haitong Securities Co. Ltd.
GICS
Investment Banking & Brokerage (40203020)
Sector
Global Issuers
Country
China
Region
Emerging Markets
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Haitong Securities 'BBB' Rating Affirmed, Outlook Remains Negative; SACP Lowered To 'bbb-' On Increased Market Exposures" Jul 27, 2016. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Haitong-Securities-BBB-Rating-Affirmed-Outlook-Remains-Negative-SACP-Lowered-To-bbb-On-Increased-Market-Exposures-1682131>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Haitong Securities 'BBB' Rating Affirmed, Outlook Remains Negative; SACP Lowered To 'bbb-' On Increased Market Exposures Jul 27, 2016. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Haitong-Securities-BBB-Rating-Affirmed-Outlook-Remains-Negative-SACP-Lowered-To-bbb-On-Increased-Market-Exposures-1682131>
  
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