Moody's assigns Baa1 to Huatai Securities bonds

Moody's Investors Service said it assigned a Baa1 long-term backed senior unsecured rating to the U.S. dollar-denominated bonds to be issued by Pioneer Reward Ltd. and guaranteed by Huatai Securities Co., Ltd. (Baa1 stable).

Pioneer Reward, incorporated in the British Virgin Islands, is an indirect wholly owned subsidiary of Huatai Securities.

The entity-level outlook on Pioneer Reward is stable, in line with the outlook for Huatai Securities.

“The Baa1 long-term backed senior unsecured rating for the proposed bonds is in line with Huatai Securities' Baa1 issuer rating, because the bonds are unconditionally and irrevocably guaranteed by Huatai Securities,” Moody’s said in a news release.

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