Industrial & Comm'l Bank of China (Macau) Ltd -- Moody's upgrade Industrial and Commercial Bank of China (Macau) to A2/P-1; outlook stable

Hong Kong, August 01, 2014 -- Moody's Investors Service, ("Moody's") has today upgraded to A2/P-1 from A3/P-2 the deposit ratings of Industrial and Commercial Bank of China (Macau) Ltd (ICBC Macau). The bank has strengthened its local franchise in Macau while maintaining geographically diversified loans exposures to Macau, Hong Kong and Mainland Chinese borrowers. The bank has also maintained good asset quality metrics, sound capitalization, and adequate profitability. These factors contribute to the upward change in the bank's baseline credit assessment (BCA) to baa3 from ba1. ICBC Macau's bank financial strength rating (BFSR) is affirmed at D+.

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