Strong business position supported by bank's sound franchise in China and above-average business and geographic diversification. Adequate risk position. Above-average funding profile and adequate liquidity. Operations mainly in China, where economic risk score is '6'. Moderate capital and earnings strength despite its significant share placement in 2012. The stable outlook primarily reflects the stable outlook on the long-term sovereign credit rating on China. The outlook also reflects our expectation that BoCom's will have an adequate buffer for potential volatility in its credit performance, as reflected in its financial metrics. We also anticipate that the "high" likelihood of extraordinary government support will remain available to the bank. We may raise the rating if the BoCom's SACP improves substantially. The SACP could
