OREANDA-NEWS. December 05, 2011. Global rating agency Standard and Poor's raised long-term counterparty credit rating on Bank of China from 'A-' to 'A' and short-term counterparty credit rating from 'A-2' to 'A-1' .The outlook on the long-term rating remained stable, reported the press-centre of Bank of China.

The rating upgrade on Bank of China reflects Standard and Poor's positive view on the bank's stable operating record, competitive edge over global markets, business diversification as well as strategy of expanding RMB business.

The rating upgrade will further boost investor's confidence, lower the bank's funding cost and enhance the bank's overall influence in the global market.