Moody’s assigns first-time rating to China International Capital

Moody's Investors Service said it assigned a first-time rating of Baa1 to China International Capital Corp. Ltd. (Hong Kong).

“CICC HK's Baa1 long-term issuer rating reflects its standalone assessment of Ba1 and a three-notch uplift based on Moody's assumption that the company will receive a very high level of support from its parent, China International Capital Corporation Limited (CICC, Baa1 stable), in times of need,” said Moody’s in a press release.

The outlook is stable in line with its corporate parent, the agency said.

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