Moody Re-grades 8 Chinese BanksMoody recently re-graded the financial strengths of eight Chinese banks.According to Mingpao Daily, the re-grading has nothing to do with the credit of these banks but out of consideration for fitting the new rating standard only. The new rating standard provides the following grades: A, A-, B+, B, B-, C+, C, C-, D+, D, D-, E+ and E, of which A-, B-, C- and D- are newly added. The ratings reset as follows: D-, Bank of China; E+, China Construction Bank; D-, Everbright Bank of China; D-, China Merchant Bank; E+, Guangdong Development Bank; E+, Industrial & Commercial Bank of China; D-, Shanghai Pudong Development Bank; E+, Shezhen Development Bank. By PD Online staff member Deng Gang |
| People's Daily Online --- http://english.peopledaily.com.cn/ |