ICBC’s Ratings Affirmed with a Stable Outlook

ICBC’s 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 Industrial and Commercial Bank of China (ICBC) at ‘A’ and ‘A1’, respectively. At the same time, CI Ratings has affirmed ICBC ’s Bank Standalone Rating ( BSR ) and Co re Financial Strength ( CFS ) rating of ‘bbb-’ and ‘bbb’ , respectively. The Outlook for the LT FCR and BSR remains Stable.

The four-notch uplift of the LT FCR above the BSR is based on an Extraordinary Support Level (ESL) of Very High. The ESL takes into account ICBC’s majority state-ownership and G-SIB status, as well as CI’s view that the authorities would have the financi al capacity to assist the Bank if required. Consequently, the Bank’s LT FCR has been aligned with CI’s…