Reuters: Financial Services and Real Estate: TEXT-S&P corrects China Development FHC L-T Greater China scale rtg

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TEXT-S&P corrects China Development FHC L-T Greater China scale rtg May 14th 2012, 09:27 Mon May 14, 2012 5:27am EDT (The following statement was released by the rating agency) May 14 - Following an error, Standard & Poor's Ratings Services has corrected the long-term Greater China credit scale rating on China Development Financial Holding Corp. (CDFHC) to 'cnA-' from 'cnBBB+' and on China Development Industrial Bank (CDIB) to 'cnA' from 'cnA-'. The ratings were placed on CreditWatch with negative implications on April 9, 2012, following similar action on other ratings on CDFHC and CDIB. A corrected rating list follows. Outlook/CreditWatch action (action taken on April 9, 2012) To From China Development Financial Holding Corp. Greater China credit scale rating cnA-/Watch Neg/cnA-2 cnBBB+/--/cnA-2 China Development Industrial Bank Greater China credit scale rating cnA/Watch Neg/cnA-2 cnA-/--/cnA-2 RELATED CRITERIA AND RESEARCH -- China Development FHC Group Ratings Put On CreditWatch Negative After News Of Its Public Offer To Buy KGI Securities, April 9, 2012 -- Group Rating Methodology And Assumptions, Nov. 9, 2011 -- Banks: Rating Methodology And Assumptions, Nov. 9, 2011 -- Credit FAQ: Greater China Credit Rating Scale Explained, April 27, 2011 Link this Share this Digg this Email Reprints

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