Fitch rates Bank of China notes A

Fitch Ratings said it assigned an expected rating of A to Bank of China Ltd. Paris Branch's planned dollar-denominated senior unsecured fixed-rate notes under the bank’s $40 billion medium-term note program.

The agency affirmed the Bank of China’s A ratings on July 29.

The notes will be biodiversity-themed green bonds with the proceeds to be used to finance and/or refinance biodiversity-related eligible green projects as defined in BOC's sustainability series bonds management statement. However, failure to comply with the policies of the bank's green bonds would not constitute an event of default under the terms of the notes.

The outlook is stable.

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