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Viewing report
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Agricultural Development Bank of China Dec 11
Standard & Poors, Dec 2011
Abstract
Almost certain likelihood of extraordinary government support expected due to the critical importance of the bank's policy role and integral link with the government Weak capitalization and profitability Riskier loan portfolio than that of average state-owned commercial banks The rating on Agricultural Development Bank of China (ADBC) reflects our view that there is an 'almost certain' likelihood that the Chinese government would provide timely and sufficient extraordinary support to ADBC in the event of financial distress. We have therefore equalized the issuer credit rating on ADBC with the sovereign credit rating on China (AA-/Stable/A-1+; cnAAA/cnA-1+). In accordance with our criteria for government-related entities, our rating approach is based on our view of the following ADBC characteristics: 'Integral' link with the...
Companies mentioned in this report are: Agricultural Development Bank of China,China (People's Republic of ),China Development Bank,Export-Import Bank of China
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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