Moody's has assigned an "A2" rating to the proposed 10-year US dollar notes issued by the Export-Import Bank of China (China EXIM), one of the country's three policy banks. The rating outlook is stable, Moody's said in a statement.
The "A2" rating incorporates China EXIM's policy functions in promoting Chinese exports and imports as well as the strong support it receives from the central government in its performance of these roles.
"The relationship between China EXIM and the highest level of the government remains close," Moody's said, adding: "Ongoing support from the government is expected."
"The bank's own financial performance remains weak, but its increased emphasis on risk management may allow it to better control any potential losses," it said in the statement.
The size of the notes issue, which represent senior unsecured securities, is believed to be US$1 bn.
