Bulletin: ICBC Financial Leasing's Possible Support To Sister Company May Weaken Its Stand-Alone Credit Profile; Rating Unaffected - S&P Global Ratings’ Credit Research

Bulletin: ICBC Financial Leasing's Possible Support To Sister Company May Weaken Its Stand-Alone Credit Profile; Rating Unaffected

Bulletin: ICBC Financial Leasing's Possible Support To Sister Company May Weaken Its Stand-Alone Credit Profile; Rating Unaffected - S&P Global Ratings’ Credit Research
Bulletin: ICBC Financial Leasing's Possible Support To Sister Company May Weaken Its Stand-Alone Credit Profile; Rating Unaffected
Published May 04, 2015
Published May 04, 2015
Price Free  |  Buy this Report Now

About This Report

  
Abstract:

HONG KONG (Standard&Poor's) May 5, 2015--Standard&Poor's Ratings Services said today that the stand-alone credit profile (SACP) of ICBC Financial Leasing Co. Ltd. (ICBCFL: A/Stable/A-1; cnAA+/cnA-1) could deteriorate should the company provide financial support to Irish sister company ICBC International Leasing Co. Ltd. (ICBCIL; not rated). The issuer credit rating on ICBCFL will not be affected because we consider the company to be a "core" subsidiary of its parent Industrial and Commercial Bank of China Ltd. (ICBC: A/Stable/A-1; cnAA+/cnA-1) and equalize the rating on ICBCFL to that on the parent bank. ICBCIL has a substantial exposure to Brazilian company Schahin Group, which recently sought bankruptcy protection. While ICBCFL has no direct exposure to the approximately US$1.1 billion

  
Report Type:

Bulletin

Issuer
ICBC Financial Leasing Co. Ltd.
GICS
Specialized Finance (40201040)
Sector
Global Issuers, Public Finance, Structured Finance
Country
China
Region
Emerging Markets
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Bulletin: ICBC Financial Leasing's Possible Support To Sister Company May Weaken Its Stand-Alone Credit Profile; Rating Unaffected" May 04, 2015. Alacra Store. May 19, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-ICBC-Financial-Leasing-s-Possible-Support-To-Sister-Company-May-Weaken-Its-Stand-Alone-Credit-Profile-Rating-Unaffected-1397095>
  
APA:
S&P Global Ratings’ Credit Research. (). Bulletin: ICBC Financial Leasing's Possible Support To Sister Company May Weaken Its Stand-Alone Credit Profile; Rating Unaffected May 04, 2015. New York, NY: Alacra Store. Retrieved May 19, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-ICBC-Financial-Leasing-s-Possible-Support-To-Sister-Company-May-Weaken-Its-Stand-Alone-Credit-Profile-Rating-Unaffected-1397095>
  
Free
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Residential Mortgage-Backed Securities from one place.