Shanghai Pudong Development Bank’s Ratings Affirmed with a Stable Outlook
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Ref: CN0191 9 CRA00- 0 1 5 August 20 20
Shanghai Pudong Development Bank’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 Shanghai Pudong Development Bank (SPDB) at ‘BBB’ an d ‘A3’, respectively. At the same time, CI Ratings has affirmed SPDB’s B ank S tandalone R ating (BSR) at ‘bbb-’. The O utlook for the LT FCR and BSR remains Stable.
SPDB’s LT FCR is set one notch above the BSR to reflect the moderate likelihood of official extraordinary support given the indirect government ownership and the Bank’s fairly modest market share. The BSR is derived from a Core Financial Strength ( CFS ) rating of ‘bbb-’ and an Operating Environment Risk Anchor ( OPERA ) of…