S&P: Bank of China unchanged

Standard & Poor's said the proposed acquisition of a 10% interest in Bank of China Ltd. (BOC, foreign currency BBB-/positive/A-3) by a consortium led by The Royal Bank of Scotland Group PLC (RBSG, AA-/stable/A-1+) for $3.1 billion does not have any immediate impact on the ratings on BOC.

The transaction, which is still subject to regulatory approvals, would make the consortium BOC's second-largest shareholder after the Chinese government, the agency noted.

S&P said it will continue to assess the ramifications of the transaction on BOC's credit profile and capitalization, against the backdrop of other expected improvements in the bank's financial metrics.

RBSG is in a position to extend technical and management support that could help improve BOC's performance over the long term, the agency noted.

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