Agric ultural Bank of China – Ratings Affirmed with a Sta ble Outlook

Ref: CN014 2 2 CRA00- 0 1 18 August 20 2 3

Agric ultural Bank of China – Ratings Affirmed with a Sta ble 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 three notches above the BSR, a level aligned with CI’s internal assessment of sovereign credit risk for China. T he Chinese government has a strong track record of extending assistance to troubled banks…