Business Services Industry
MOODY'S SAYS SUB-PRIME EXPOSURE WON'T IMPACT CHINESE BANK RATINGS
Info-Prod Research (Middle East), August, 2007
Moody's Investors Service says today that itsees no near-term impact on the ratings of Chinese banks because of theirreported exposures to the US sub-prime market. Most of Chinese banks' investments in sub-prime-related structuredproducts are limited, according to their recently released 1H2007 results- equivalent to single-digit percentages or less of their pre-provisionpre-tax profits (PPP) and shareholders' equity," says May Yan, a Moody'sVP/ Senior Credit Officer.
"Moreover, these investments are usually highlyrated at Aa or Aaa, and which are less likely to suffer losses if thereis no forced sale," says Yan. One bank with a noticeably larger investment exposure than the others isBank of China (BOC) (D-/ A1), which has reported a total exposure ofUS$9.64 billion in US...
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