Moody’s rates Agricultural Bank of China notes A1

Moody's Investors Service said it assigned an A1 rating to the proposed three-year Chinese yuan-denominated notes to be issued by Agricultural Bank of China Ltd., Dubai Branch.

The outlook is stable.

The proposed notes will be issued pursuant to the bank’s $15 billion medium-term note program.

Moody’s said the A1 debt rating is in line with Agricultural Bank of China’s long-term deposit rating and reflects the structure of the proposed issuance. The senior notes will constitute the issuer's direct, unconditional, unsubordinated and unsecured obligations. They will be issued with a fixed-rate coupon and will be redeemable at principal on maturity.

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