S&P puts First Heartland Jusan on watch

S&P said it placed its ratings on First Heartland Jusan Bank on CreditWatch with negative implications. The ratings on watch include the bank’s B unsecured debt rating.

“The CreditWatch placement stems from our opinion that strategic uncertainty regarding FHJB’s future development has recently increased. We see a possibility that the bank may revise its risk-averse approach to business development. Maintenance of high capital and liquidity buffers still remains a key factor supporting our ratings on the bank,” S&P said in a press release.

The agency said it aims to resolve the CreditWatch within the next 90 days, as it gets more clarity about the bank’s strategic goals and their potential implications for its creditworthiness.

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