Fitch rates Amipeace notes A

Fitch Ratings said it assigned an expected rating of A to planned fixed-rated U.S. dollar-denominated senior unsecured notes to be issued under Amipeace Ltd.'s HK$20 billion medium-term note program.

Amipeace is a special purpose vehicle wholly owned by Bank of China Group Investment Ltd. with the sole purpose of selling offshore debt for its parent. The company is a wholly owned subsidiary of Bank of China Ltd. and is the primary direct investment and investment management arm of BOC.

“The ratings on the senior debt instruments issued under Bocgi's Amipeace Ltd. are equivalent to BOC's long-term issuer default rating (IDR), which is underpinned by Fitch's expectations of an extremely high probability of support from the Chinese sovereign (A+/stable) in the event of stress,” the agency said in a press release.

The proceeds will be used to finance and/or refinance eligible green projects as defined in the Bocgi's green bonds management statement.

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