China Merchants Bank – Ratings Affirm ed ; Outlook Remains Stable
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Summary
Ref: CN018 22 CRA00- 0 1 7 September 202 3
China Merchants Bank – Ratings Affirm ed ; Outlook Remains Stable
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 Merchants Bank (CMB) at ‘BBB+’ and ‘A2’ , respectively . At t he same time, CI Ratings has affirmed CMB’s B ank S tandalone R ating (BSR) of ‘bbb-’ , Core Financial Strength (CFS) rating of ‘bbb-’ and Extraordina ry Support Level (ESL) of High . The Outlook for the ratings is Stable.
Benefitting from the ESL of High, the Bank’s LT FCR has been set two notches above the BSR. The ESL takes into account CMB’s DIBS status , as well as the Chinese government’s strong track record of extending assistance to troubled banks and its ample resources and…