Futu Announces Investment Grade Rating Reaffirmed by S&P Global Ratings

Rhea-AI Summary

Futu Holdings Limited (Nasdaq: FUTU) receives stable outlook and 'BBB-' long-term issuer credit rating reaffirmation from S&P Global Ratings, indicating strong market position and overseas expansion success.

Positive

• Stable outlook and credit rating reaffirmation by S&P Global Ratings reflect confidence in Futu's market position and overseas expansion success.

Negative

• None.

HONG KONG, Aug. 11, 2023 (GLOBE NEWSWIRE) -- Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a leading tech-driven online brokerage and wealth management platform, today announced that S&P Global Ratings (“S&P”) maintained stable outlook on the long-term rating of the Company and reaffirmed its long-term issuer credit rating of “BBB-.” The securities firm of Futu in Hong Kong has a stand-alone credit profile of “bbb”.

According to S&P, Futu is well-positioned to further gain market share in Hong Kong given its brand name, good user experience, and stable technology infrastructure. Following its rapid growth in Hong Kong, Futu has also built a successful track record of overseas expansion. In addition, S&P believes that Futu will be able to continue serving its existing mainland China client base. S&P takes the view that Futu has adequate funding, and expects Futu's RAC (risk-adjusted capital) ratio to remain very strong for the next two years.

About Futu Holdings Limited

Futu Holdings Limited (Nasdaq: FUTU) is an advanced technology company transforming the investing experience by offering fully digitalized financial services. Through its proprietary digital platforms, Futubull and moomoo, the Company provides a full range of investment services, including trade execution and clearing, margin financing and securities lending, and wealth management. The Company has embedded social media tools to create a network centered around its users and provide connectivity to users, investors, companies, analysts, media and key opinion leaders. The Company also provides corporate services, including IPO distribution, investor relations and ESOP solution services.

For investor inquiries, please contact:

Investor Relations
Futu Holdings Limited
ir@futuholdings.com

FAQ

What is the recent announcement from Futu Holdings Limited?

Futu Holdings Limited received a stable outlook and 'BBB-' long-term issuer credit rating reaffirmation from S&P Global Ratings.

What is the stock ticker symbol for Futu Holdings Limited?

The stock ticker symbol for Futu Holdings Limited is FUTU.

What does the stable outlook and credit rating reaffirmation from S&P Global Ratings indicate?

It indicates confidence in Futu's market position and overseas expansion success.

What are the key factors contributing to Futu's stable outlook and credit rating reaffirmation?

Futu's brand name, good user experience, stable technology infrastructure, successful overseas expansion, and ability to continue serving its existing mainland China client base.

What does S&P Global Ratings expect for Futu's risk-adjusted capital ratio in the next two years?

S&P expects Futu's risk-adjusted capital ratio to remain very strong for the next two years.