Fitch rates Bank of China notes A

Fitch Ratings said it preliminarily assigned A ratings to senior unsecured green notes to be sold by two Bank of China Ltd. branches.

Bank of China Ltd. Dubai Branch and Bank of China Ltd. Luxembourg Branch will issue notes that will be sold under the Bank of China’s $40 billion medium-term note program.

Both branches are considered part of the same legal entity as Bank of China Ltd. and are rated in line with its long-term issuer rating, Fitch said.

The proceeds will be used to finance green projects in Belt and Road Initiative countries.

The outlook is stable.

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