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) 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 its BSR based on an E xtraordinary S upport L evel (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 a sound 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 BSR is derived from a CFS…