24 May 2019

S&P raises Bank of China credit rating to BBB, report says

The Standard & Poor’s has raised the credit rating of Bank of China Ltd. (03988.HK, 601988.CN) to BBB from BBB-, and maintained a stable outlook, the AAStocks market website reported Friday, citing an S&P report. Bank of China has recorded a moderate credit growth and seen lower write-offs in recent years, while the lender’s overseas business has helped diversify its overall risks, the report said. The bank also has seen stable earnings and rapid expansion in recent years, reflecting its stronger financing ability and liquidity management, it added.

– Contact HKEJ at [email protected]




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