Moody’s affirms ICBC (Macau)

Moody's Investors Service said it affirmed all ratings of Industrial and Commercial Bank of China (Macau) Ltd.

The bank’s long- and short-term local and foreign currency deposit ratings are A2/Prime-1 and deposit and CD program ratings of provisional A2 and provisional Prime-1.

ICBC (Macau)'s baseline credit assessment is baa3, its adjusted baseline credit assessment is baa2 and its long- and short-term counterparty risk assessments are A1(cr)/Prime-1(cr).

The outlook remains stable.

The agency said the affirmation considers the bank’s resilient asset quality metrics and relatively stable performance despite the volatility in Macau's economic growth and property market.

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