Research Update: Bank of China Ratings Raised To 'A/A-1' On Bank Criteria Change; Outlook Stable Nov 11
Standard & Poors, November 2011
Abstract
Following a review of BOC under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our counterparty credit ratings on BOC to 'A/A-1' from 'A-/A-2'. The outlook on the long-term rating is stable. The ratings reflect the bank's 'bbb-' anchor and the bank's "strong" business position, "moderate" capital and earnings, "moderate" risk position, "above-average" funding, and "strong" liquidity. The ratings also reflect our classification of BOC as a government-related entity and our view of the "very high" likelihood of extraordinary government support for the bank. The stable outlook primarily reflects the stable outlook on the long-term rating on China. It also reflects our expectation that BOC could maintain its stand-alone credit profile and the likelihood...
Companies mentioned in this report are:
- Bank of China Ltd.
- China (People's Republic of )
- Bank of China Group Insurance Co. Ltd.
Action: Outlook: Stable
Action: Upgraded
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
- Bank of China Ltd.
- China (People's Republic of )
- Bank of China Group Insurance Co. Ltd.
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