Moody's gives Bank of China notes A1

Moody's Investors Service said it assigned an A1 rating to the two-year benchmark-size fixed-rate senior unsecured Chinese yuan-denominated notes to be issued by Bank of China Ltd., Sydney Branch.

The outlook is stable.

The proposed notes are being issued pursuant to the bank's $10 billion medium-term note program.

"The A1 debt rating is in line with BOC's long-term deposit rating and reflects the structure of the proposed issuance," Moody's vice president and senior credit officer Christine Kuo said in a news release.

The senior notes will constitute the issuer's direct, unsubordinated, unconditional and unsecured obligations. They will be issued with a fixed-rate coupon and redeemable at principal amount on maturity.

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