Fitch assigns Bank of China notes A

Fitch Ratings said it assigned an expected rating of A to Bank of China Ltd.'s planned senior unsecured notes to be issued by its Frankfurt, Luxembourg, Macau, Singapore and Sydney branches under its $40 billion medium-term note program.

The bank plans to sell fixed- and floating-rate notes denominated in U.S. dollars, Chinese yuan, euros and Australian dollars.

The notes will represent the Bank of China's unsecured and unsubordinated obligations and are rated in line with its long-term issuer default rating, which is underpinned by Fitch’s expectations of an extremely high probability of support from the Chinese government in the event of stress, the agency said.

The notes sold by the Frankfurt, Luxembourg and Singapore branch will be green bonds, with proceeds used to finance and/or refinance eligible green projects.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.