Fitch assigns A to Bank of China notes

Fitch Ratings said it assigned an expected A rating to Bank of China Ltd. Luxembourg Branch’s planned floating-rated, dollar-denominated senior unsecured notes to be issued under its $40 billion medium-term note program.

“BOC's Luxembourg branch is part of the same legal entity as BOC. Therefore, the proposed notes will represent BOC's direct, unconditional, unsecured and unsubordinated obligations, and are rated in line with its long-term issuer default rating (IDR),” Fitch said in a press release.

The proceeds will be used for general corporate purposes.

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.