China Construction Bank – 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 China Construction Bank Corporation (CCB or the Bank) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed CCB’s Bank Standalone Rating (BSR) of ‘bbb-’, Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordinary Support Level (ESL) of Very High. The Outlook for the LT FCR and BSR is Stable.

The Bank’s LT FCR is underpinned by the ESL of Very High, and is set four notches above the BSR. The ESL takes into account CCB’s majority state ownership and G-SIB status, as well as CI’s view that the authorities have the willingness and financial capacity to assist CCB if required. The Bank’s LT FCR is aligned with CI’s internal assessment of sovereign credit risk for China.

The BSR is derived from a CFS rating of ‘bbb-’ and an Operating Environment…