BEIJING, August 19, 2021-S&P Global (China) Ratings has assigned its AAA_spc(sf) ratings to the Senior Notes of the Zhongyu 2021-2 Non-performing Asset Backed Securities. The NPL securitization transaction was originated by Bank of China (BOC).

List of Ratings:

Senior: AAA_spc(sf)

Methodology Applied:

S&P Ratings China--Structured Finance Methodology

Related Research:

Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities
Credit Quality Divergence of Domestic Banks Balanced by Government Support Amid COVID-19 | A Study on Credit Quality Differentiation of Domestic Banks in China
FAQs on Banks’ Nonperforming Assets and Securitization

Models Applied: None.

Media Contacts:

Sharon Tang, Beijing, (86)10-6569-2988; sharon.tang@spgchinaratings.cn

Analyst Contacts:

Beibei Shi, CFA, Beijing; beibei.shi@spgchinaratings.cn

Enjie Zhang, Beijing; enjie.zhang@spgchinaratings.cn

Jieqiong Du, Beijing; jieqiong.du@spgchinaratings.cn