Moody’s assigns BBB+/A-2 to Citic

Standard & Poor's said it assigned its BBB+ long-term and A-2 short-term issuer credit ratings to Citic Securities International Co. Ltd. (CSI).

The outlook on the long-term rating is stable.

The agency also assigned its cnA+ long-term and cnA-1 short-term Greater China regional scale ratings to the company.

S&P said the rating reflects its view that CSI is a "core" subsidiary of Citic Securities Co. Ltd. (Citics), a large Chinese securities firm. CSI is solely owned by Citics and plays an essential role in the parent's global expansion by functioning as a key offshore business platform. Citics targets 20% revenue from its international operations on a sustainable basis, for which continued strong commitment to CSI is indispensable.

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