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穆迪重申對國泰君安國際(01788.HK)Baa2長期發行人評級
格隆匯 02-07 17:15

格隆匯APP獲悉,近期,國際信用評級機構穆迪發佈報告,重申對國泰君安國際(01788.HK)“Baa2”長期發行人信用評級,評級展望為“穩定”。這是繼2019年7月後,公司再次獲穆迪重申“投資級”信用評級,並繼續維持在港中資券商最高信用評級水平。據悉,評級機構穆迪每年對評級進行兩次檢閲,標普則一年進行一次。

穆迪指出,授予公司的獨立信用評級反映三方面優勢:1)於幫助中國投資者進行離岸證券交易業務上具領導地位;2)具備較優良及穩定的盈利能力;3)業務經驗豐富,在香港市場擁有良好的長期經營業績。評級展望“穩定”則代表穆迪預期國泰君安國際未來將繼續保持良好的財務狀況,且未來12-18個月中來自政府的支持將保持不變。

報告還指出,公司擁有透明的業務模式,且遵循謹慎的風險管控模式。經過兩年的觀察,穆迪認為公司的結構化產品業務(即金融產品)模式透明且有效。穆迪在報告中提到結構化產品的底層資產情況,並介紹公司對該業務設置有關風險管理指標以嚴控風險。

報告最後提到,國泰君安國際近年來一直保持良好的盈利能力。由於市場份額的擴大,公司的經紀佣金收入在2019年上半年同比增長7%,而同期香港市場的平均每日股票交易量下降23%。同時,來自企業融資業務的手續費收入在2019年上半年同比增長35%,這主要是由於其債券承銷業務的強勁表現所致。

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