Moody's rates Bank of East Asia notes A3

Moody's Investors Service said it assigned an A3 rating to the subordinated notes being issued by The Bank of East Asia, Ltd. The rating is subject to final documents.

The outlook is stable.

The rating reflects the bank's defensible franchise, adequate financials and the structure of the notes, Moody's said. The notes would represent direct, unsecured and subordinated obligations of the bank and the A3 rating is one notch below its senior obligations rating of A2, the agency added.

The bank is rated A2/prime-1 for long-term and short-term deposits, both foreign- and local-currencies, and carries a bank financial strength rating of C. The outlook is stable.

© 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.