HONG KONG (Standard&Poor's CreditWire) Nov. 22, 2000--Standard&Poor's today affirmed its 'BBBpi' rating, based on public information, on Bank of East Asia Ltd. (BEA) following the announcement of its acquisition of First Pacific Bank, subject to regulatory approval. Should the Hong Kong regulator approve, BEA will be able to meet the regulatory threshold of US$20 billion in assets set by the Chinese government as a minimum requirement for licensed commercial banks to expand their business operations in China. In addition, the acquisition will potentially afford BEA greater operational flexibility and allow the bank to solidify its position as the third-biggest listed bank in Hong Kong. However, it is expected that the acquisition of First Pacific will have
