BRIEF-S&P Says China Huarong And Subsidiaries Downgraded Amid Weakening Asset Quality; Outlook Negative

Reuters2021-09-09

Sept 9 (Reuters) - China Huarong Asset Management Co Ltd

* S&P SAYS CHINA HUARONG AND SUBSIDIARIES DOWNGRADED AMID WEAKENING ASSET QUALITY; OUTLOOK NEGATIVE

* S&P SAYS EXPECT ASSET QUALITY OF CHINA HUARONG ASSET MANAGEMENT CO. LTD. TO REMAIN WEAK OVER THE NEXT TWO YEARS

* S&P SAYS LOWERED THE LONG-TERM ISSUER CREDIT RATINGS ON CHINA HUARONG AND CHINA HUARONG INTERNATIONAL HOLDINGS LTD. TO 'BBB' FROM 'BBB+'.

* S&P SAYS CONTINUE TO VIEW CHINA HUARONG AS GOVERNMENT-RELATED ENTITY WITH VERY HIGH LIKELIHOOD OF RECEIVING EXTRAORDINARY GOVERNMENT SUPPORT IF NEEDED

Source text : [ID: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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