Bank of China (Canada): Rating Report

On November 16, 2023, DBRS Morningstar downgraded the long-term credit ratings of BOCC, including its Long-Term Issuer Rating, to BBB (high) from A (low). The trends on all long-term credit ratings have been changed to Stable from Negative. At the same time, DBRS Morningstar confirmed the short-term credit ratings on the Bank, including its Short-Term Issuer Rating, at R-1 (low). The trends on all short-term credit ratings remain Stable. The Support Assessment (SA) for BOCC is SA1, reflecting the expectation of timely support from its parent, BOC, which is approximately 68% owned by the PRC.