Agric ultural Bank of China – Ratings Affirmed with a St able Outlook

Ref: CN014 2 3 CRA00- 0 1 14 August 20 2 4

Agric ultural Bank of China – Ratings Affirmed with a St able Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Agricultural Bank of China (ABC) at ‘A’ and ‘A1’ , respectively. At the same time, CI Ratings has affirmed ABC’s Bank Standalone Rating (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bbb-’ , and Extraordinary Support Level (ESL) of Very High . The O utlook for the LT FCR and BSR remains Stable.

Benefiting from the ESL of Very High, ABC’s LT FCR is set four notches above the BSR, a level aligned with CI’s internal assessment of sovereign credit risk for China. The Chinese government has a strong track record of extending assistance to troubled banks in case…