China Merchants Bank – Ratings Affirmed ; Outlook Remains Stable
Content is restricted
Summary
Ref: CN018 2 3 CRA00- 0 1 6 September 202 4
China Merchants Bank – Ratings Affirmed ; 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 is set two notches above the BSR. The ESL takes into account CMB’s D-SIB status, as well as the Chinese government’s strong track record of extending assistance to troubled banks and its ample resources and policy…