SINGAPORE (Standard&Poor's) July 13, 2004--Standard&Poor's Ratings Services today assigned its 'BBB+' senior unsecured long-term foreign currency ratings to the Export-Import Bank of China's (China EXIM; BBB+/Stable/A-2) impending U.S. dollar global bonds due 2014. "Standard&Poor's issuer credit ratings on China EXIM are the same as those assigned to People's Republic of China (PRC; BBB+/Positive/A-2), reflecting the strong support from the government, its sole owner, and the bank's policy role in promoting export financing," said Standard&Poor's credit analyst Ping Chew, director of Emerging Asia Sovereign&International Public Finance Ratings. The ratings also reflect China EXIM's key role as the country's conduit for foreign official funding for projects within China, as well as for
