S&P rates Bank of China notes A

S&P said it assigned its A long-term issue ratings to drawdowns under the US$40 billion medium-term note (MTN) program by Bank of China Ltd. (A/stable/A-1).

The proposed senior notes will be issued by BOC Hong Kong Branch and BOC Macau Branch, respectively. The notes issued by the Hong Kong branch will be denominated in Chinese renminbi and Hong Kong dollars, and those by the Macau branch will be denominated in Macau patacas (MOP) and U.S. dollars.

“We have equalized the issue ratings on the senior notes with the issuer credit ratings on BOC,” S&P said in a news release.

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