S&P rates Bank of China notes A

S&P said it assigned an A long-term issue rating to a drawdown of euro-denominated senior notes to be issued by Bank of China Ltd. (Paris branch).

The notes are a part of the $40 billion medium-term note program by Bank of China, S&P said.

The ratings are equalized with the bank's issuer credit ratings.

S&P said it considers the creditworthiness of the Paris branch to be the same as that of the bank.

The notes issued constitute direct, unconditional, unsubordinated and unsecured obligations of the issuer and will at all times rank equally among themselves, the agency said.

The proceeds will be used for general corporate purposes.

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