ICBC Financial Leasing Co. Ltd. Rating Raised To 'A' On Strengthened Integration With Parent Bank; Outlook Stable

In our view, ICBCFL's operational and financial integration with its parent ICBC has increased. We consider the China-based leasing company to be a core subsidiary of its parent and equalize the rating with ICBC's group credit profile. We are raising our issuer credit rating on ICBCFL to 'A/A-1' from 'A-/A-1' and the Greater China regional scale rating to 'cnAA+/cnA-1' from 'cnAA/cnA-1'. The stable outlook reflects the outlook on ICBC. SYDNEY (Standard&Poor's) Oct. 31, 2014--Standard&Poor's Ratings Services raised its issuer credit rating on ICBC Financial Leasing Co. Ltd. (ICBCFL) to 'A/A-1' from 'A-/A-1'. The outlook on the long-term issuer credit rating is stable. We also raised our long-term Greater China regional scale rating on the China-based leasing

...+ In our view, ICBCFL's operational and financial integration with its parent ICBC has increased. + We consider the China-based leasing company to be a core subsidiary of its parent and equalize the rating with ICBC's group credit profile. + We are raising our issuer credit rating on ICBCFL to 'A/A-1' from 'A-/A-1' and the Greater China regional scale rating to 'cnAA+/cnA-1' from 'cnAA/cnA-1'. + The stable outlook reflects the outlook on ICBC. SYDNEY (Standard & Poor's) Oct. 31, 2014--Standard & Poor's Ratings Services raised its issuer credit rating on ICBC Financial Leasing Co. Ltd. (ICBCFL) to 'A/A-1' from 'A-/A-1'. The outlook on the long-term issuer credit rating is stable. We also raised our long-term Greater China regional scale rating on the China-based leasing company to 'cnAA+/cnA-1' from 'cnAA/cnA-1'. We raised the rating to reflect ICBCFL's increased operational and financial integration with its parent Industrial and Commercial Bank of China Ltd. (ICBC: A/Stable/A-1; cnAA+/cnA-1)....

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