Bank of Communications – Ratings Affirmed with a Stable Outlook

Bank of Communications – Ratings Affirmed with a Stable 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 Bank of Communications (BoCom) at ‘A-’ and ‘A1’ , respectively. At the same time, CI Ratings has affirmed BoCom’s Bank Standalone Rating (B SR ) of ‘bbb-’ and Core Financial Strength ( CFS ) rating of ‘bbb-’ . The Out look for the ratings remains Stable .

BoCom’s LT FCR is set three notches above the BSR based on an Extraordinary Support Level (ESL) of Very High. The ESL takes into account the Bank’s high level of state-ownership and well established franchise, including a large network and sound market share, as well as our view that the authorities would have the financial capacity and willingness to assist BoCom if required.

The…