S&P China Ratings announced today that it has assigned a credit rating of AAAspc(sf) to the senior tranche of asset-backed securities (the "Priority Securities") issued under the "Zhongyu Zhicheng 2026-8 Non-Performing Asset-Backed Securities" transaction. The rating was finalized on August 18, 2026, in Beijing.

The transaction was originated by Bank of China Limited. The Priority Securities have been rated AAAspc(sf).

The rating is based on the methodology outlined in S&P China's structured finance rating framework, along with its specific analytical approach for non-performing loan asset-backed securities. Additional insights and commentary on this asset class are available through the firm's published research and commentary reports.

For media inquiries, please contact Wenjing Lei at (86)10-6569-2961 or Michelle.Lei@spgchinaratings.cn. Analytical contacts for this rating include Jiarong Li (Beijing) and Kaye Li (Beijing), who can be reached at Jiarong.Li@spgchinaratings.cn and Kaye.Li@spgchinaratings.cn, respectively.