Moody's Corporation, a rating agency, has downgraded the local and foreign currency issuers of three Chinese state-owned asset management companies, 01359.HK, Oriental assets and Great Wall assets. At present, Moody's Corporation rated the local and foreign currency issuers of the three subjects as "A3".

Moody's Corporation said that after being put on the watch list to reflect the 02799.HK incident in China, it was decided to re-evaluate the extremely high government support hypothesis in the ratings of the three asset managers. Huarong earlier announced the introduction of state-owned strategic investors, although this is a rescue measure to avoid losses to creditors, but Huarong's disposal plan makes it necessary for Moody's Corporation to reevaluate the extremely high government-backed assumptions of all four asset managers.