S&P rates Bank of China (Macau) notes A

S&P said it assigned an A rating to proposed drawdowns by Bank of China Ltd. (Macau Branch).

The notes are a part of Bank of China Ltd.’s $40 billion medium-term note program. The proposed fixed-rate notes will be denominated in Hong Kong dollars and Macanese pataca.

The issuer intends to use the proceeds for general corporate purposes.

The rating on the notes reflects the structure of the proposed issuances and is in line with S&P’s issuer credit rating on Bank of China.

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