China Merchants Bank’s Long-Term Foreign Currency Rating Upgraded; Outlook Remains Stable
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Ref: CN018 21 CRA00- 0 1 7 September 202 2
China Merchants Bank’s Long-Term Foreign Currency Rating Upgraded; Outlook Remains Stable
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has upgraded the Long-Term Foreign Currency Rating ( LT FCR ) of China Merchants Bank (CMB) to ‘BBB+’ from ‘BBB’ . The Bank’s Short-Term Foreign Currency Rating ( ST FCR ) was affirmed at ‘A2’ . At t he same time, CI Ratings has affirmed CMB’s B ank S tandalone R ating (BSR) and Core Financial Strength (CFS) rating at ‘bbb-’. The Outlook for the ratings is Stable.
The Bank’s LT FCR has been set two notch es above the BSR following CI’s revision of the E xtraordinary S upport L evel (ESL) to High from Moderate. The latter is in response to the Bank’s inclusion o nto the D-SIB list in China . ESL also takes into account …