Moody's rates Bank of East Asia notes A3

Moody's Investors Service said it assigned an A3 rating to Bank of East Asia Ltd.'s dated subordinate notes drawdown under its medium-term note program.

The outlook is stable.

Moody's said the ratings take into account its stand-alone financial profile, as well as potential government support. Positive rating factors include the bank's good asset quality, adequate capitalization and sound liquidity profile, according to the agency.

The agency said these are offset by negative factors, including below-peer average profitability and potential risks associated with its rapid expansion in mainland China.

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