BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default - S&P Global Ratings’ Credit Research

BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default

BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default - S&P Global Ratings’ Credit Research
BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default
Published Jul 14, 2004
495 words — Published Jul 14, 2004
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Abstract:

HONG KONG (Standard&Poor's) July 14, 2004--Standard&Poor's Ratings Services said today that there is unlikely to be any immediate impact on its ratings on China's Bank of Communications (BB/Stable/--) following a possible default by a trust fund that the bank has been appointed to act for as a sales agent. The trust fund, which invests in the dairy industry and which is run by Jinsin Investment Trust Co., is reported by news media to have been unable to repay principal and returns due to investors. In a statement today, the bank confirmed that it was responsible for paying and receiving monies on behalf of the fund, but made no mention of any legal obligation to make good

  
Brief Excerpt:

RESEARCH BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default Publication date: 14-Jul-2004 HONG KONG (Standard & Poor's) July 14, 2004--Standard & Poor's Ratings Services said today that there is unlikely to be...

  
Report Type:

Bulletin

Ticker
3328@HK
Issuer
Bank of Communications Co. Ltd.
GICS
Diversified Banks (40101010)
Sector
Global Issuers
Country
China
Region
Emerging Markets
Format:
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MLA:
S&P Global Ratings’ Credit Research. "BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default" Jul 14, 2004. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/BULLETIN-China-s-Bank-of-Communications-Not-Affected-by-Trust-Fund-Default-384935>
  
APA:
S&P Global Ratings’ Credit Research. (). BULLETIN: China's Bank of Communications Not Affected by Trust Fund Default Jul 14, 2004. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/BULLETIN-China-s-Bank-of-Communications-Not-Affected-by-Trust-Fund-Default-384935>
  
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