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 (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bbb-’, and Extraordinary Support Level (ESL) of Very High. The Outlook on the ratings remains Stable.

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

The Bank’s…