Noah Holdings (NOAH) Receives Investment Grade By S&P

Noah Holdings Limited (NYSE: NOAH) announced today that the Company received an investment grade long-term issuer credit rating from S&P Global Ratings ("S&P") with stable outlook, which reflects S&P's belief that Noah will be able to maintain its market position, prudent risk management practices, and limited financial liabilities in the next 12-24 months. Upon receipt of this rating, Noah has become the first Chinese wealth management company to be rated investment grade by S&P.

"The investment grade rating received by Noah is evidence of our commitment to financial stability and risk management prudence at a time when the Company is growing rapidly. S&P's review further validated our pledge to only distribute and manage products with no guaranteed returns or undue leverage, which differentiates Noah from many of its peers, and we also believe this effort supports the long-term development of the broader wealth management and asset management industries in China," said Kenny Lam, Group President of Noah. "We see this as an excellent step forward for Noah."

You May Also Be Interested In

• Boeing (BA) Statement on U.S. Air Force Collaborative Combat Aircraft Announcement
• ADT Corp. (ADT) Names Jeff Likosar as Chief Financial Officer
• Noah Holdings Limited Files 2023 Annual Report on Form 20-F