Business Services Industry
CHINA: MOODY'S SAYS SUB-PRIME EXPOSURE WON'T IMPACT CHINESE BANK RATINGS.
IPR Strategic Business Information Database, August, 2007
Moody's Investors Service says today that it sees no near-term impact on the ratings of Chinese banks because of their reported exposures to the US sub-prime market. Most of Chinese banks' investments in sub-prime-related structured products are limited, according to their recently released 1H2007 results - equivalent to single-digit percentages or less of their pre-provision pre-tax profits (PPP) and shareholders' equity," says May Yan, a Moody's VP/Senior Credit Officer.
"Moreover, these investments are usually highly rated at Aa or Aaa, and which are less likely to suffer losses if there is no forced sale," says Yan. One bank with a noticeably larger investment exposure than the others is Bank of China (BOC) (D-/A1), which has reported a total exposure...
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