Moody’s rates Bank of China notes A1

Moody's Investors Service said it assigned an A1 rating to the proposed dollar-denominated senior unsecured notes to be issued by Bank of China Ltd., Singapore Branch.

The outlook is negative.

The notes are being issued under Bank of China's $30 billion medium-term note program.

Moody’s said the A1 rating and negative outlook for the notes are in line with Bank of China's long-term deposit rating and outlook, and reflect the structure of the proposed issuance.

The senior unsecured notes will have a tenor of three years, and constitute direct, general, unsubordinated, unconditional and unsecured obligation of the bank. The notes will be redeemable at principal on maturity.

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