S&P: Grants Shenwan Hongyuan's proposed issuance of US dollar bonds a "BBB" long-term issuance rating.

On June 29th, Standard & Poor's assigned a long-term issue rating of "BBB" to the proposed issuance of US dollar senior unsecured bonds by Shenwan Hongyuan Securities Co., Ltd. (referred to as "Shenwan Hongyuan"). The bonds will be issued by Shenwan Hongyuan International Finance Limited. Shenwan Hongyuan indirectly wholly owns the issuer company, which is the onshore guarantor for the proposed bond issuance.