TEXT-S&P summary: Bank of Communications Co. Ltd.

Mon Dec 3, 2012 6:11am EST

(The following statement was released by the rating agency)

Dec 03 -

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Summary analysis -- Bank of Communications Co. Ltd. --------------- 03-Dec-2012

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CREDIT RATING: A-/Stable/A-2 Country: China

Primary SIC: Commercial banks,

nec

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Credit Rating History:

Local currency Foreign currency

28-Nov-2012 A-/A-2 A-/A-2

06-Dec-2011 A-/-- A-/--

18-Jul-2008 BBB+/-- BBB+/--

07-Jul-2008 --/-- BBB+/--

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Ratings Score Snapshot

Issuer Credit Rating A-/Stable/A-2

SACP bbb-

Anchor bbb-

Business Position Strong (+1)

Capital and Earnings Moderate (-1)

Risk Position Adequate (0)

Funding and Liquidity Above Average

and Adequate (0)

Support +3

GRE Support +3

Group Support 0

Sovereign Support 0

Additional Factors 0

Outlook

The stable outlook primarily reflects the stable outlook on the long-term sovereign credit rating on China. The outlook also reflects our expectation that BoCom's will have an adequate buffer for potential volatility in its credit performance, as reflected in its financial metrics. We also anticipate that the "high" likelihood of extraordinary government support will remain available to the bank.

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