S&P affirms Agricultural Bank of China

S&P said it affirmed it’s a long-term and A-1 short-term issuer credit ratings on Agricultural Bank of China Ltd. and affirmed all the issue ratings on the bank's outstanding debt and guaranteed issuances, or those supported through letters of credit.

At the same time, the agency removed all the ratings from CreditWatch, where they were placed with negative implications on Sept. 22, following the lowering of China’s sovereign rating and the banking industry country risk assessment on China.

The outlook is stable.

S&P said it affirmed the ratings to reflect a view that the bank will maintain asset risks and credit losses in line with the domestic banking industry average.

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