Moody's: Few changes for China banks

Moody's Investors Service today published the rating results for banks in China as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.

The updated methodology has relatively small impact on the bank financial strength ratings of most Chinese banks, Moody's said.

Only China Merchants Bank had its bank financial strength rating raised to D+ from D. Because government support has already been largely taken into account in the ratings of Chinese banks, the implementation of the new methodology only resulted in two one-notch deposit upgrades for Bank of Communications and Guangdong Development Bank, the agency said.

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