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Moody's rates ICBC International A2
Moody's Investors Service said it assigned an A2 long-term issuer rating and prime-1 short-term issuer rating to ICBC International Holdings Ltd.
The outlook is stable.
The A2 long-term issuer rating reflects ICBC International's standalone assessment of Ba2 and a six-notch uplift based on an assumption of a very high level of support from its parent, Industrial & Commercial Bank of China Ltd., Moody's said.
The ratings also consider a high level of indirect support from the Chinese government, the agency added.
The very high level of parental support is based on ICBC International's strategic importance to and linkages with its 100% shareholder, ICBC, Moody's said.
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