Summary: Bank of China Ltd. Dec 11
Standard & Poors, December 2011
Abstract
The long-term counterparty rating on Bank of China Ltd. (BOC) incorporates a four-notch uplift to the stand-alone credit profile (SACP) of 'bbb-' because we classify the bank as a government-related entity and believe there is a "very high" likelihood that the Chinese government would provide timely and sufficient extraordinary support if BOC comes under financial distress. In accordance with our criteria for government-related entities, our view of a "very high" likelihood of extraordinary government support is based on our assessment of the following BOC's characteristics: "Very important" role to the government. The government tends to treat the banking sector as a lever to realize its economic goals. We believe the major state-owned commercial banks, including BOC, provide core support for...
Companies mentioned in this report are:
- Bank of China Ltd.
- China (People's Republic of )
- Bank of China Group Insurance Co. Ltd.
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Bank of China Ltd.
- China (People's Republic of )
- Bank of China Group Insurance Co. Ltd.
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