Moody's rates ICBC notes A1

Moody's Investors Service said it assigned an A1 rating to the dollar-denominated three-year fixed-rate senior notes to be issued by Horsepower Finance Ltd., a wholly owned subsidiary of ICBC International Holdings Ltd., and guaranteed by Industrial and Commercial Bank of China Ltd. (A1). The outlook is stable.

The agency said the A1 debt rating reflects both the structure of the proposed issuance and Industrial and Commercial Bank of China's long-term deposit rating.

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