S&P affirms Bank of Chongqing

S&P said it affirmed the BBB- long-term and A-3 short-term issuer credit ratings on Bank of Chongqing Co. Ltd.

The outlook is stable.

“We affirmed the ratings to reflect our expectation that BoCQ will maintain its modest capital levels amid heightened economic risk in China,” the agency said in a news release.

S&P said it estimates the risk-adjusted capitalization ratio will be slightly above 5% over the next one to two years, the lower end of the agency’s moderate category assessment.

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