Bank of China ’s Ratings Affirmed with a Stable Outlook
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Ref: CN020 2 3 CRA00- 0 1 28 August 2024
Bank of China ’s 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 China (BOC) at ‘A’ and ‘A1’, respectively. At the same ti me, CI Ratings has affirmed BOC’s Bank Standalone Rating (BSR) of ‘bbb-’ and Core Fin ancial Streng t h (CFS) rating of ‘bbb-’. The Outlook for the LT FCR and BSR remains Stable.
Benefiting from the Very High E xtraordinary S upport L evel (ESL) , BOC’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 ESL reflects the Bank’s majority state-ownership and globally systemically important bank (G-SIB) status . The Chinese government has a…