Huatai Securities has a top-tier market position in its main business lines and a strong capital position. We see a moderately high likelihood of the China-based securities firm receiving timely extraordinary financial support from the Jiangsu provincial government. We are assigning our 'BBB' long-term and 'A-2' short-term issuer credit ratings to Huatai Securities. The stable outlook reflects our expectation that Huatai Securities will maintain its business and financial profile and continue to benefit from a moderately high likelihood of external support from the Jiangsu government over the next one to two years. On May 31, 2018, S&P Global Ratings assigned its 'BBB' long-term and 'A-2' short-term issuer credit ratings to Huatai Securities Co. Ltd. The outlook on the long-term rating
