Fitch Ratings: Upgrades Industrial Bank's long-term foreign currency issuer rating to "BBB+" with a stable outlook

On July 3, Fitch Ratings upgraded Industrial Bank Co., Ltd. (referred to as "Industrial Bank" 601166.SH) long-term foreign currency issuer default rating (IDR) from "BBB" to "BBB+" and its viability rating (VR) from "b+" to "bb-". The outlook for the long-term issuer default rating is stable. At the same time, Fitch Ratings also upgraded the short-term issuer default rating from "F2" to "F1" and the government support rating (GSR) from "bbb" to "bbb+".