Huarong Upgraded to BBB+ from BBB by Fitch
China Huarong was upgraded to BBB+ from BBB by Fitch. Its senior unsecured bonds issued by Huarong Finance II Co., Huarong Finance 2017 Co. and Huarong Finance 2019 Co. were upped to BBB+ from BBB. Its 2017 Perps were upgraded to BBB- from BB+ and its 2019 Perps to BB...
Huarong Sells 72% of Brokerage Stake for $1.72bn
China Huarong announced late last week that it has agreed to sell its 72% stake in Huarong Securities, its brokerage unit, to a unit of state-owned investment firm China Reform Holdings Corp., as per Caixin Global. Huarong is expected to raise RMB 10.93bn ($1.72bn)...
Huarong Financial Leasing Downgraded To BB+
Huarong Financial Leasing (HRFL) was downgraded to BB+ from BBB- on its declining strategic importance to its parent, China Huarong AMC. S&P said that HRFL had become ” moderately strategic from highly strategic” following the announcement by China...
