Fitch gives A to Bank of China notes

Fitch Ratings said it assigned an expected A rating to Bank of China Ltd. London Branch's planned senior unsecured notes under the $40 billion medium-term note (MTN) program.

Because the branch is part of BOC, Fitch said it rated notes in line with the bank’s A rating.

The proceeds will be used to finance or refinance eligible green projects, as defined in BOC's sustainability series bonds management statement. “We do not believe that a failure to comply with the policies and requirements of the green bonds would constitute an event of default under the terms and conditions of the notes,” Fitch said.

The outlook is stable.

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