Moody's gives A1 to Bank of China notes

Moody's Investors Service said it assigned an A1 rating to the proposed dollar-denominated three-year SOFR (Secured Overnight Financing Rate) floating-rate senior unsecured green notes to be issued by Bank of China Ltd. Dubai Branch. The notes will be issued under the Bank of China Ltd.’s $40 billion medium-term note program.

The A1 rating is in line with the MTN program’s rating, Moody’s said.

The proceeds will be used to finance and/or refinance eligible green projects in the Belt and Road Initiative partner countries.

The outlook is stable.

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