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S&P gives A to Bank of China notes
S&P said it assigned A ratings to Bank of China Ltd. Frankfurt Branch’s planned renminbi-denominated fixed-rate notes and Bank of China Ltd. Luxembourg Branch’s planned fixed-rate euro-denominated notes.
The notes will be sold under the bank’s $40 billion medium-term note program.
“The rating on the notes reflects our long-term issuer credit rating on BOC. We view the creditworthiness of the bank's branches as equal to that of the bank,” S&P said in a press release.
The proceeds will be used for eligible green transition projects.
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