Moody’s rates Industrial Bank deposits Baa2/P-2

Moody's Investors Service said it assigned Industrial Bank Co., Ltd. Baa2 long-term local and foreign currency deposit ratings, P-2 short-term local and foreign currency deposit ratings, a ba2 baseline credit assessment (BCA) and a ba2 Adjusted BCA.

The outlook is negative, in line with the outlook on China’s government.

The long- and short-term counterparty risk assessments (CR Assessment) are Baa2(cr)/P-2(cr).

Moody’s said the Baa2/P-2 long-term and short-term deposit ratings incorporate Industrial Bank's BCA of ba2 and a three-notch uplift based on Moody's assumption of a very high level of systemic support from the Government of China (Aa3 negative) in times of need.

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