Moody's raises CMB Financial Leasing

Moody's Investors Service said it upgraded to A2 from A3 the local-currency and foreign-currency long-term issuer ratings of CMB Financial Leasing Co., Ltd.

Moody’s concurrently raised to A3 from Baa1 the backed long-term foreign-currency senior unsecured debt rating of CMB Financial Leasing's offshore subsidiary, CMB International Leasing Management Ltd. and upgraded to (P)A3 from (P)Baa1 its backed long-term local currency and foreign currency senior unsecured medium-term-note program ratings.

The upgrade and outlook revision follows Moody’s upgrade of parent China Merchants Bank Co. Ltd.’s deposit and MTN program ratings to A2 from A3 and the change in outlook to stable from positive, Moody’s said. It cited the bank’s improved profitability, capital and funding; durable asset quality as well as the lower risk in its off-balance sheet wealth management products.

© 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.