S&P rates East Money notes BBB-

S&P said it assigned its BBB- long-term issue rating to the dollar-denominated senior unsecured notes guaranteed by East Money Information Co. Ltd. The issuer is Hafoo, a special purpose vehicle indirectly and wholly owned by East Money.

“The issue rating reflects our view that the guarantee is unconditional, irrevocable and timely, and therefore qualifies for rating substitution treatment,” S&P said in a press release.

East Money will use the proceeds for overseas expansion.

The outlook is stable.

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