Bank of Communications Financial Leasing Co. Ltd. 'A-/A-2' And 'cnAA-/cnA-1' Ratings Affirmed, Outlook Negative

We continue to view BOCOMFL as a core subsidiary of its parent bank, BOCOM, and believe it is an indirect beneficiary of any potential extraordinary government support to the parent bank. We are affirming our 'A-' long-term and 'A-2' short-term issuer credit ratings on BOCOMFL. We are also affirming our 'cnAA-' long-term and 'cnA-1' short-term Greater China regional scale ratings on the China-based leasing company. The negative outlook on BOCOMFL reflects the outlook on the parent bank and our expectation that the leasing company will remain a core subsidiary over the next two years. HONG KONG (S&P Global Ratings) June 21, 2016--S&P Global Ratings said today that it had affirmed its 'A-' long-term and 'A-2' short-term issuer credit ratings on

...+ We continue to view BOCOMFL as a core subsidiary of its parent bank, BOCOM, and believe it is an indirect beneficiary of any potential extraordinary government support to the parent bank. + We are affirming our 'A-' long-term and 'A-2' short-term issuer credit ratings on BOCOMFL. We are also affirming our 'cnAA-' long-term and 'cnA-1' short-term Greater China regional scale ratings on the China-based leasing company. + The negative outlook on BOCOMFL reflects the outlook on the parent bank and our expectation that the leasing company will remain a core subsidiary over the next two years. HONG KONG (S&P Global Ratings) June 21, 2016--S&P Global Ratings said today that it had affirmed its 'A-' long-term and 'A-2' short-term issuer credit ratings on Bank of Communications Financial Leasing Co. Ltd. (BOCOMFL). The outlook on the long-term rating is negative. We also affirmed our 'cnAA-' long-term and 'cnA-1' short-term Greater China regional scale ratings on the China-based leasing company....

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