S&P: Avi Funding notes AA-

Standard & Poor’s said it assigned an AA- long-term rating to a benchmark-sized dollar-denominated issuance under Avi Funding Co. Ltd.’s $6 billion loan-backed medium-term notes program.

The agency also said it assigned a cnAAA long-term Greater China regional scale rating to the notes.

Avi is a related special-purpose vehicle of the Export-Import Bank of China.

Loans to the bank of equivalent currency, amount and timing will back the notes, S&P said.

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