Fitch gives Bank of China notes A

Fitch Ratings said it assigned Bank of China Ltd., Hong Kong Branch's proposed dollar-denominated senior notes issue a long-term rating of A(EXP).

The notes will be issued under Bank of China's medium-term note program, which Fitch rated on Dec. 9, and represent direct, unconditional, unsecured and unsubordinated obligations of the bank. The proceeds from the notes will be used for the Hong Kong Branch's general corporate purposes.

The notes represent senior obligations of the bank, and are rated in line with its long-term issuer default rating of A. Bank of China's issuer default ratings are in turn based on an extremely high probability of support, if required, from the Chinese government.

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