"High" likelihood of extraordinary government support. Sound franchise in China and above-average business and geographic diversification. Above-average funding and adequate liquidity. Operates mainly in China, which has an economic risk score of '6'. Moderate capital and earnings strength. Growing pressures on loan quality as China's economy slows down. The stable outlook on Bank of Communications Co. Ltd. (BoCom) primarily reflects the stable outlook on the long-term sovereign credit rating on China (AA-/Stable/A-1+; cnAAA/cnA-1+). It also reflects our expectation that the bank will have an adequate buffer for potential volatility in its credit performance. We also anticipate that the likelihood of extraordinary government support for BoCom will remain "high." We may raise the rating if BoCom's stand-alone credit profile (SACP) improves
