S&P reaffirms Haitong Bank’s rating

The rating agency Standard & Poor’s assigned a Positive outlook to the bank run by José Maria Ricciardi, reflecting the possibility that it could revise upward the bank’s long-term credit rating within the next 12 months.

Haitong Bank informed the market that, on August 18, 2016, the rating agency Standard & Poor’s announced that it reaffirmed the bank’s long- and short-term credit ratings at BB- and B, respectively, [which are below investment grade,] given that it considers the Bank a strategically important subsidiary of China-based Haitong Securities Co. Ltd.

The rating agency Standard & Poor’s assigned a Positive outlook to the bank run by José Maria Ricciardi, reflecting the possibility that it could revise upward the bank’s long-term credit rating within the next 12 months.

The agency’s lowest investment-grade rating is BBB-, which, along with BBB and BBB+, denotes average investment quality.