On September 28th, Standard & Poor's Ratings Services announced in Beijing that upgrade ICBC's long-term credit rating by two grades in a row to BBB+ from current BBB-; short-term credit rating to A-2 from current A-3; basic strength rating to C from current D+; ICBC 's prospect is evaluated as stable.

It is explained that the upgrade of ICBC's credit rating this time is mainly based on three considerations: First, ICBC's financial standing has improved significantly through a series of financial recombination, which is embodied by enhancement of risk management ability, improvement of asset quality as well as amelioration of profitability and capital condition; Second, possible introduction of strategic investors and overseas listing in the future will bring positive effect to ICBC, and at the same time, it will not reduce government's support to ICBC significantly; Third, supervision and administration level of regulatory authorities, especially Banking Regulatory Commission to ICBC improves continuously since its foundation.

It is also told that this the second time for Standard & Poor's to upgrade ICBC's credit rating in two months after it upgraded ICBC's long-term credit rating to BBB- from BB+ on July 25th.