OREANDA-NEWS. Moody's Investors Service has today upgraded the ratings of four Chinese financial leasing companies to align with their parent banks' ratings.

The companies and their affected ratings are:

• China Development Bank Financial Leasing (CDB Leasing) -- long-term issuer rating upgraded to Aa3 from A1 and aligned with China Development Bank Corporation's (CDB, Aa3 negative) rating

• ICBC Financial Leasing Co., Ltd. (ICBC Leasing) -- long-term issuer rating upgraded to A1 from A2 and aligned with Industrial & Commercial Bank of China Ltd's (ICBC, A1 negative) rating

• CCB Financial Leasing Corporation Ltd. (CCB Leasing) -- long-term issuer rating upgraded to A1 from A2 and aligned with China Construction Bank Corporation's (CCB, A1 negative) rating

• CMB Financial Leasing Co., Ltd. (CMB Leasing) -- long-term issuer rating upgraded to Baa1 from Baa2 and aligned with China Merchants Bank Co., Ltd.'s (CMB, Baa1 negative) rating

Moody's has also affirmed the short-term issuer ratings of the four leasing companies and the P-1 commercial paper (CP) programme of ICBCIL Finance Co. Limited (ICBCIL Finance).

At the same time, Moody's has upgraded the medium term note (MTN) programme ratings and note ratings of ICBCIL Finance Co. Limited (ICBCIL Finance) and CCBL (Cayman) 1 Corporation Limited (CCBL Cayman 1), and the senior unsecured note rating of CCBL (Cayman) Corporation Limited (CCBL Cayman).

The outlook on all ratings is negative, in line with the negative outlooks of the parent banks.