Moody's assigns Bank of China notes A1

Moody's Investors Service said it assigned A1 ratings to various planned senior unsecured notes to be issued by two branches of Bank of China Ltd. The notes will be issued under the bank’s $40 billion medium-term note program.

The Bank of China Ltd., Hong Kong Branch will sell U.S. dollar-denominated three-year secured overnight financing rate floating-rate notes.

The Bank of China Ltd. London Branch will sell pound-denominated two-year Sterling overnight index average) floating-rate notes.

“The senior unsecured bond rating is in line with BOC's long-term deposit rating. Therefore, an upgrade/downgrade of BOC's long-term deposit rating would also cause a similar rating action on the senior unsecured bond rating,” the agency said in a press release.

The outlook is stable.

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