However, negative news from financial segment is constant, i.e. 中融国际, the subsidiary of 中融信托, was listed into “CreditWatch with negative implication” by S&P in Apr2019, but moved out of the list after repayment of debts due in 2019&2020. However, S&P rated its prospect to “negative” in Jul2019 due to high leverage, low profitability and declined expectation for parent support from 中融信托. 恒天财富 and 新湖财富, 20%/8% invested by the borrower, were disclosed in 2020 that some consigned products were involved in payment default. As confirmed by BU, the borrower is just a minority shareholder and doesn’t participant in operation of 恒天财富 and 新湖财富. The aforesaid event will take no impact on the borrower.
However, negative news from financial segment is constant, i.e. 中融国际, the subsidiary of 中融信托, was listed into “CreditWatch with negative implication” by S&P in Apr2019, but moved out of the list after repayment of debts due in 2019&2020. However, S&P rated its prospect to “negative” in Jul2019 due to high leverage, low profitability and declined expectation for parent support from 中融信托. 恒天财富 and 新湖财富, 20%/8% invested by the borrower, were disclosed in 2020 that some consigned products were involved in payment default. As confirmed by BU, the borrower is just a minority shareholder and doesn’t participant in operation of 恒天财富 and 新湖财富. The aforesaid event will take no impact on the borrower.
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