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People's Daily Online>>China Business

S&P upgrades Bank of China rating

By Ou Yangjie (People's Daily)

16:09, December 02, 2011

Edited and translated by Yao Chun, People's Daily Online

On Nov. 12, 2011 the global rating agency Standard & Poor'(S&P) announced that it will upgrade long term counterparty rating from A- to A as well as short term counterparty rating from A-2 to A-1. The long-term rating outlook of Bank of China is stable.

The S&P's rating upgrade shows its recognition of Bank of China's robust business performance, international competitive advantage, diversified management as well as expansion strategy for RMB business. The rating upgrade will further promote the investors' confidence, reduce the financing cost and improve the overall influence of China's bank market.

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