Moody’s views China banks negatively

Moody's Investors Service said it changed to negative from stable the outlooks on eight Chinese banks, following the agency's affirmation of the government of China's issuer rating at A1 and change in the sovereign rating outlook to negative from stable.

The banks are Agricultural Development Bank of China, China Development Bank, Export-Import Bank of China, Agricultural Bank of China Ltd., Bank of China Ltd., China Construction Bank Corp., Industrial & Commercial Bank of China Ltd. and Postal Savings Bank of China Co., Ltd.

The stable outlooks on Bank of Communications Co., Ltd. and China Merchants Bank Co., Ltd. are unchanged, Moody’s said.

The agency said it also affirmed all the banks’ ratings.

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