S&P Global Ratings has placed a BBB long-term issue rating on GF Financial Holdings BVI's proposed US dollar bonds.
The rating is similar to the long-term foreign currency issuer credit rating on China-based brokerage GF Securities Co (HKG:1776, SHE:000776), which is guaranteeing the bonds.
S&P expects a process risk if GF Financial Holdings cannot present the trustee evidence of the guarantee's registration with the State Administration of Foreign Exchange and the initial post-issue filing with China's National Development and Reform Commission.
Price (HKD): $6.77, Change: $+0.19, Percent Change: +2.89%
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