ICBC’s sub-debt is bad for market development: Moody’s

The Chinese bank’s subordinated debt issuance will impact credit markets negatively as investors seeking to tap into this asset class will have to bear more risk, says the credit ratings agency.

  • 08 Nov 2011

The recent issuance of Rmb1.5 billion (US$235.9 million) of Basel III-compliant subordinated debt by the Industrial and Commercial Bank of China (Asia) (ICBC Asia) will have a higher probability of loss and greater severity given default.

According to a research report released by Moody’s yesterday (November 7), the debt ...

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