S&P gives Bank of China notes A

S&P said it rated Bank of China Ltd. Frankfurt Branch’s planned fixed-rate notes A. The notes will be issued under the Bank of China Ltd.’s $40 billion medium-term note program.

“The rating on the notes reflects our issuer credit rating on Bank of China (A/stable/A-1). We view the creditworthiness of bank's branches as equal to that of the bank,” S&P said in a press release.

The proceeds will be used to fund eligible green projects as defined in Bank of China's sustainability series bonds management statement.

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