S&P Global Ratings has placed a BBB+ long-term foreign currency issue rating on Guotai Junan International Holdings' (HKG:1788) proposed US dollar fixed rate notes, according to a Tuesday release.
The notes' rating stems from the Hong Kong-based financial service company's long-term issuer credit rating, since they serve as its direct, unconditional, unsubordinated, and unsecured obligations.
The notes will rank equally with the issuer's other senior unsecured obligations, except for those preferred by law, the rating agency said.
S&P considers the company as a core subsidiary of parent Guotai Haitong Securities and a major overseas platform.
The company's rating will move in parallel with the parent's rating, S&P said.
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