China Construction Bank Corporation's credit ratings by Standard & Poor，Moody&Fitch (Updated) 

Updated in October 2019.

Standard & Poor's    
In September 2005, Standard & Poor's revised CCB’s long-term foreign currency rating to BBB + from BBB-, short-term ratings to A-2 from A-3 , long-term rating outlook to stable, and fundamental strength rating to C from D +. In December 2006, Standard & Poor's revised CCB’s rating outlook from stable to positive. In November 2007, Standard & Poor's revised CCB’s long-term foreign currency issuer credit rating to A- from BBB+ and the rating outlook to stable from positive, maintaining short-term issuer credit rating at A-2 and fundamental strength rating at C. In December 2010, Standard & Poor's revised the outlook on the long-term rating on CCB to positive from stable. In November 2011, Standard & Poor's revised CCB’s long-term foreign currency ratings to A from A-, short-term ratings to A-1 from A-2 and long-term rating outlook to stable from positive, cancelling the fundamental strength rating. In December 2015, Standard & Poor's affirmed CCB’s bbb+ stand-alone credit profile (SACP), A long-term rating, stable outlook, and A-1 short-term rating. In September 2017, Standard & Poor's lowered the long-term sovereign ratings on China to A+ from AA- and the short-term rating to A-1 from A-1+. The outlook on the long-term rating was revised to stable from negative. It affirmed CCB’s A long-term rating and A-1 short-term rating with stable outlook, and revised CCB’s SACP to bbb from bbb+. In March 2019, Standard & Poor's revised CCB’s SACP to bbb+ from bbb.

Moody's Investors Service  
In November 2005, Moody’s revised CCB’s financial strength rating from E + to D- , maintaining long-term deposit rating at A2 and short-term deposit rating at P-1 with a stable outlook rating. In July 2006, Moody’s revised CCB’s rating outlook to positive. In July 2007, Moody’s revised CCB’s long-term foreign currency deposit rating to A1 from A2, maintaining short-term deposit ratings P-1 with a stable outlook rating. In August 2007, Moody’s revised CCB’s financial strength rating outlook from stable to positive. In November 2009, Moody's revised to positive from stable the outlook on the A1 long-term deposit rating for CCB. In June 2010, Moody's revised CCB’s financial strength rating to D+ from D- with a stable outlook. Moody's affirmed CCB's A1 long-term foreign currency deposit rating and P-1 short-term foreign currency deposit rating with a positive outlook, which are at the same level of China's sovereign rating. In September 2010, Moody's revised to stable from positive the outlook on the A1 long-term deposit rating for CCB. In April 2014, Moody's affirmed CCB's A1 long-term deposit rating and P-1 short-term deposit rating with a stable outlook, and revised CCB’s financial strength rating to C- from D+. In March 2016, Moody’s revised China’s Aa3 rating from stable to negative, and revised the rating outlook to negative of 25 non-insurance financial institutions of China (including CCB).  In May 2017, Moody's revised China’s long-term sovereign rating from Aa3 to A1, outlook rating from negative to stable, affirmed CCB’s A1 long-term deposit rating, outlook rating from negative to stable, P1 short-term deposit rating, and baa2 standalone baseline credit assessment. In May 2018, Moody's affirmed CCB’s A1 long-term deposit rating with a stable outlook, and upgraded its baseline credit assessment to baa1 from baa2.

Fitch international rating 
In November 2005, Fitch revised CCB’s individual rating from D/E to D, affirmed CCB’s A- long-term foreign currency debt rating and F2 short-term foreign currency debt rating with a stable outlook rating. In September 2006, Fitch revised CCB’s outlook rating from stable to positive. In November 2007, Fitch revised CCB’s long-term foreign currency issuer default rating to A from A-, short-term issuer default rating to F1 from F2, outlook rating to stable from positive, and affirmed CCB’s D individual rating. In May 2012, Fitch affirmed CCB’s A long-term foreign currency issuer default rating with a stable outlook rating, F1 short-term issuer default rating, and bb viability rating.  In May 2018, Fitch affirmed CCB’s A long-term foreign currency issuer default rating with a stable outlook, F1 short-term issuer default rating, and upgraded its viability rating to bb+ from bb. In October 2019, Fitch upgraded CCB’s short-term issuer default rating to F1+ from F1, and affirmed its A long-term foreign currency issuer default rating with a stable outlook, and bb+ viability rating.