Moody’s affirms Citic Securities

Moody's Investors Service said it affirmed Citic Securities Co. Ltd.'s long-term and short-term issuer ratings at Baa1 and P-2, respectively.

Its standalone assessment was maintained at Ba1.

The agency also affirmed the Baa1 backed senior unsecured note rating of Citic Securities Finance MTN Co., Ltd.

At the same time, Moody's withdrew the outlook on Citic Securities' long-term issuer rating and Citic Securities Finance MTN's backed senior unsecured note rating for business reasons.

The agency said the affirmation takes into account the firm's stable financial position in the past two years.

Its long-term issuer rating reflects its standalone assessment of Ba1 and a three-notch uplift based on an assumption of a very high level of support from China (A1 stable) in times of stress, Moody’s said.

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