Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Citic Bank International Ltd. > News item |
Moody's gives Baa3 to Citic notes
Moody's Investors Service said it assigned a Baa3 rating to CITIC Bank International Ltd.'s subordinated notes due 2022 issued under its medium-term note program.
The outlook is stable.
Citic International's "ratings reflect its good capitalization, revamped risk management framework and processes, and steadily-improving asset quality metrics, and take into account its exposures to potentially risky Chinese borrowers, high borrower concentration, and below peer-average profitability," Sonny Hsu, a Moody's vice president, said in a statement.
"The bank's deposit rating factors in very high parental support from its majority parent China Citic Bank Corp. Ltd."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.