S&P rates ICBC A-

S&P said it assigned its A- long-term and A-2 short-term issuer credit ratings to ICBC International Holdings Ltd.

The outlook on the long-term rating is stable.

S&P said the rating on ICBC International reflects the company's highly strategic group status to its sole shareholder and parent, Industrial and Commercial Bank of China Ltd. (ICBC: A/stable/A-1).

“We expect ICBC International to be an indirect beneficiary of support from the Chinese government, if needed,” S&P said in a news release.

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