Moody's rates Bank of East Asia notes A3

Moody's Investors Service said it assigned an A3 rating to The Bank of East Asia, Ltd.'s dated subordinated notes issued under its euro medium-term note program.

The outlook is stable.

"The rating on the dated subordinated notes is one notch below that of BEA's senior obligations," Moody's vice president and senior analyst Sonny Hsu said in a news release.

"The notes constitute direct, unsecured, and subordinated obligations of BEA and qualify as supplementary capital under existing regulatory capital rules in Hong Kong. The notes will carry a fixed-rate coupon with the maturity in 2022 and is callable by BEA starting in 2017," Hsu added in the release.

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