Days after S&P downgrading the China's sovereignty credit rating, the benchmark rating for Chinese banks was downgraded from "BBB_" to “BB+”. Also, S&P adjusted the Banking Industry Country Risk Assessment (BICRA) from category 5 to category 6. S&P also expressed that the high leverage of loan and housing price will be facing adjustment, causing the deterioration of collective economic risk in the Chinese banking industry, which will exceed the endurance of the Chinese economy and the benefits from it.