Moody's rates Bank of East Asia notes

Moody's Investors Service said it assigned a Baa2 foreign-currency junior senior unsecured drawdown rating to Bank of East Asia, Ltd.'s planned dollar-denominated non-preferred loss-absorbing notes under the bank's $6 billion medium-term note program.

“The assigned Baa2 rating is in line with the bank's foreign-currency junior senior unsecured MTN program rating, and reflects the structure of the issuance. The non-preferred loss-absorbing notes constitute direct and unsecured obligations of the bank and shall at all times rank pari passu and without any preference among themselves,” the agency said in a statement.

The outlook is negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.