S&P rates China EXIM notes

Standard & Poor's said it assigned its BBB+ senior unsecured long-term foreign currency ratings to the Export-Import Bank of China's (BBB+/stable/A-2) impending U.S. dollar global bonds due 2014.

"Standard & Poor's issuer credit ratings on China EXIM are the same as those assigned to People's Republic of China (BBB+/positive/A-2), reflecting the strong support from the government, its sole owner, and the bank's policy role in promoting export financing," said S&P credit analyst Ping Chew, director of Emerging Asia Sovereign & International Public Finance Ratings.

The ratings also reflect China EXIM's key role as the country's conduit for foreign official funding for projects within China, as well as for Chinese government concessional lending to other countries.

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