GO
| HSI1 | 23,026.68 | +354.82 | 315.38B |
| HSCEI1 | 7,605.34 | +144.50 | 95.65B |
| Back Zoom + Zoom - Block Traded | |
|
Fitch Upgrades CICC (03908.HK) and Subsidiary Ratings to "A-"; Outlook Stable
2026-06-29 09:25:16 Fitch Ratings has upgraded the Long-Term Issuer Default Ratings of CICC (03908.HK) and its wholly owned subsidiary China International Capital Corporation International from "BBB+" to "A-", with a stable outlook. Fitch also upgraded the shareholder support ratings of the two companies from "bbb+" to "a-". The Long-Term Issuer Default Rating and shareholder support rating of CICC are based on Fitch癒礎s expectation of an extremely high likelihood of extraordinary support from Central Huijin when the company is under stress. In recent years, CICC has strengthened its role in fulfilling economic and social policy objectives on behalf of Central Huijin, while enhancing its capability to support China癒礎s capital market reforms through its leading investment banking franchise. Fitch expects China癒礎s capital markets to continue improving as regulators prioritize the development of direct financing and broaden capital market funding channels for strategically important industries. Fitch believes a recovery in the capital markets will help CICC increase revenue and consolidate its market position. Fitch also noted that CICC maintains adequate capital levels. Following the consolidation of Sinolink Securities and Dongxing Securities, its adjusted net leverage ratio (1Q26: 5.1x) is expected to improve. CICC癒礎s liquidity remains sufficient, with coverage ratios above 2x from 2022 to 2025, outperforming peers. (su/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |