Moody's: China Everbright BFSR view stable

Moody's Investors Service said it affirmed China Everbright Bank's Baa3 long-term foreign currency deposit rating and Prime-3 short-term foreign currency rating.

The rating outlook is stable.

Moody's also affirmed China Everbright's standalone bank financial strength of D-, which maps to a baseline credit assessment of Ba3 on the long-term scale. However, the outlook on the bank financial strength rating was revised to stable from positive.

The revision to a stable outlook for the bank financial strength rating follows China Everbright's Aug. 27 announcement that it was suspending its plan to raise capital via an IPO on the Hong Kong Stock Exchange, given weak capital market conditions, the agency said.

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