Moody's rates Bocom Leasing A3

Moody's Investors Service said it assigned A3 long-term local-currency and foreign-currency issuer ratings to Bocom Leasing Management Hong Kong Co Ltd. The agency also affirmed the (P)A3/(P)P-2 ratings on the backed senior unsecured medium-term note program and its A3 backed senior unsecured ratings.

“The A3 issuer rating largely considers the affiliate-backed level of support from Bocom Leasing and its ultimate parent, Bank of Communications Co., Ltd. (BoCom, A2 stable, baseline credit assessment: baa3), and a very high level of indirect government support from the Chinese government via the parent companies,” Moody’s said in a press release.

The outlook remains stable.

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