This report does not constitute a rating action. Overview Key strengths Key risks Almost certain likelihood of extraordinary government support due to critical importance of policy role in promoting external trade, and integral link with the government. Exposure to high-risk geographies--a key part of the company?s policy role, posing risk to asset quality. Track record of support from the government and the central bank. The stable outlook on Export-Import Bank of China (CEXIM) reflects the outlook on the sovereign credit rating on China (A+/Stable/A-1). Given the bank's integral link and critical role to the government, future rating movements will continue to move in tandem with the sovereign. We could lower the rating on CEXIM if we downgrade China. This could
