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S&P: China EXIM outlook positive
Standard & Poor's said it affirmed its A/A-1 sovereign credit ratings on the Export-Import Bank of China (China EXIM). The outlook was revised to positive from stable.
S&P said the outlook revision reflects the agency's expectation that China EXIM will receive close support from the sovereign (China; A/Positive/A-1) and that the bank will have a better defined policy role as outlined in S&P's discussions with the government and regulators.
The ratings reflect the agency's expectation of strong government incentives to support a strategic institution and the bank's policy role in promoting export financing. The ratings also reflect China EXIM's key role as the country's conduit for foreign official funding for projects within China and for Chinese government concessional lending to other countries, S&P said.
The outlook on the ratings is in line with the outlook on the sovereign ratings on China. But a weakening of the bank's policy role or the level of support from the government both explicit and implicit would weaken the credit ratings, the agency said.
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