Shanghai Pudong Development Bank – Ratings Affirmed with a Stable Outlook
Content is restricted
Summary
Ref: CN0192 2 CRA00- 0 1 4 August 20 2 3
Shanghai Pudong Development Bank – Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed Shanghai Pudong Development Bank’s (SPDB) Long – Term Foreign Currency Rating ( LT FCR ) and S hort Term ( ST) FCR at ‘BBB+’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed SPDB’s B ank S tandalone R ating (BSR) of ‘bbb -’, C ore F inancial S trength (CFS) rating of ‘bbb -’ and E xtraordinary S upport L evel (ESL) of High. The Outlook for the LT FCR and BSR is Stable.
SPDB’s LT FCR is set two notches above the BSR given the ESL of High. The latter reflects the Bank’s D-SIB status, as well as the Chinese government’s strong track record of extending assistance to troubled banks in case of need, and its ample resources and…