Agric ultural Bank of China – Ratings Affirmed with a Stabl e Outlook

Ref: CN014 21 CRA00- 0 1 19 August 20 2 2

Agric ultural Bank of China – Ratings Affirmed with a Stabl e 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-’ and Core Financial Strength (CFS) of ‘bbb-’. The O utlook for the LT FCR and BSR remains Stable.

Given ABC’s majority state-ownership and G-SIB status, CI considers the likelihood of the authorities providing timely and sufficient extraordinary support to the Bank in the event of need to be very high. The Bank’s LT FCR is therefore set four notches above the BSR, a level aligned with CI’s internal assessment of…