S&P gives AEON A-, A-2

Standard & Poor's said it assigned its A- long-term and A-2 short-term counterparty credit ratings to AEON Credit Service (Asia) Co. Ltd.

The outlook is stable.

The agency said that the ratings reflect the company's status as a core subsidiary of its immediate parent, Aeon Credit Service Co. Ltd. (A-/stable).

On a standalone basis, S&P said that the ratings reflect AEON's solid capitalization, sound profitability and its established franchise in Hong Kong while these strengths are balanced by the company's vulnerable asset quality, limited funding sources and its small market share in the competitive consumer finance market in Hong Kong.

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