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S&P assigns A to Bank of China notes
S&P said it assigned A ratings to Bank of China Ltd.’s planned issuance of green notes.
Bank of China Ltd. Luxembourg Branch plans to sell Chinese renminbi-denominated fixed-rate notes and Bank of China Ltd. Dubai Branch will sell dollar-denominated floating-rate notes. The rate will be based on the secured overnight financing rate.
“The rating on the notes reflects our long-term issuer credit rating on BOC. We view the creditworthiness of the bank's branches as equal to that of the bank,” S&P said in a press release.
The proceeds will be used to finance green projects in Belt and Road Initiative countries.
The outlook is stable.
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