We consider BOCOMFL as a core subsidiary of its parent bank. In our view, the China-based leasing company is fully integrated within the BOCOM group, providing leasing products and services that help the group service its large customer base. We are assigning our 'A-' long-term and 'A-2' short-term issuer credit ratings to BOCOMFL. We are also assigning our 'cnAA' long-term and 'cnA-1' short-term Greater China regional scale ratings to the company. The stable outlook on BOCOMFL reflects the outlook on the parent and our expectation that the leasing company will remain a core subsidiary over the next one to two years. On March 19, 2015, Standard&Poor's Ratings Services assigned its 'A-' long-term and 'A-2' short-term issuer credit ratings
