S&P ups China Development view to stable

Standard & Poor's said it revised the outlook on China Development Financial Holding Corp. and its core subsidiary to stable from negative. The agency also said it affirmed its BBB+ long-term counterparty credit rating and A-2 short-term rating, along with the A- long-term counterparty credit rating and A-2 short-term rating on China Development Industrial Bank and the B bank fundamental strength rating. China Development Industrial Bank is 100% owned by China Development Financial and is a core member of the group.

The outlook revision mainly reflects an expectation that the improvement in the group's core earnings is sustainable for the next two years and the group's strong capitalization will remain as a good buffer to financial volatility, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.