by Amruth Sundarkumar | Feb 24, 2022 | China, Credit Ratings, Investment Grade Bonds
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...
by Amruth Sundarkumar | Jan 31, 2022 | China, Corporates
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)...
by Amruth Sundarkumar | Nov 23, 2021 | China, Corporates
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...
by Amruth Sundarkumar | Nov 18, 2021 | China, Corporates
Distressed state-owned asset manager China Huarong announced via an exchange filing on Wednesday that it is set to receive RMB 42bn ($6.6bn) via a non-public share sale to a consortium of state-backed investors as part of its bailout announced in August. As part of...
by Amruth Sundarkumar | Nov 17, 2021 | China, Corporates
China Huarong Asset Management has been granted approval to raise RMB 70bn ($11bn) of bonds in the interbank market, which will be used to purchase, dispose non-performing assets and for other main businesses, according to the China Banking and Insurance Regulatory...
