Moody's may up three China banks

Moody's Investors Service said it placed on review for possible upgrade the long-term ratings of three policy banks in China.

The three banks are China Development Bank, the Export-Import Bank of China and the Agricultural Development Bank of China.

This action follows the agency's decision to place China's A1 long-term foreign-currency sovereign rating on review for possible upgrade.

The banks' baseline credit assessments of 5 also are on review for possible upgrade.

Moody's said it believes the banks will continue to receive full support from the government as 100% state-owned banks.

Although the government has begun to initiate reforms to operate the banks more based on commercial interest, state ownership in these entities is not expected to change any time soon, the agency said.

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