Bank Of China's US$20 Billion MTN Program Assigned 'A/A-1' Ratings; Proposed Drawdown Rated 'A'

HONG KONG (S&P Global Ratings) Feb. 7, 2017--S&P Global Ratings today assigned its 'A' long-term and 'A-1' short-term issue rating to a US$20 billion medium-term notes (MTN) program by Bank of China Ltd. (BOC: A/Stable/A-1; cnAA+/cnA-1). At the same time, we assigned our 'cnAA+' long-term and 'cnA-1' short-term Greater China regional scale ratings to the MTN program. We also assigned our 'A' long-term issue rating and 'cnAA+' Greater China regional scale rating to the proposed senior notes drawdown by BOC Hong Kong Branch. The ratings assigned are subject to our review of the final issuance documentation. The ratings assigned to the MTN program reflect our ratings on BOC, but are only applicable to the senior unsecured portion under the MTN

...HONG KONG (S&P Global Ratings) Feb. 7, 2017--S&P Global Ratings today assigned its 'A' long-term and 'A-1' short-term issue rating to a US$20 billion medium-term notes (MTN) program by Bank of China Ltd. (BOC: A/Stable/A-1; cnAA+/cnA-1). At the same time, we assigned our 'cnAA+' long-term and 'cnA-1' short-term Greater China regional scale ratings to the MTN program. We also assigned our 'A' long-term issue rating and 'cnAA+' Greater China regional scale rating to the proposed senior notes drawdown by BOC Hong Kong Branch. The ratings assigned are subject to our review of the final issuance documentation. The ratings assigned to the MTN program reflect our ratings on BOC, but are only applicable to the senior unsecured portion under the MTN program. Senior notes constitute direct, general, unsubordinated, unconditional, and unsecured obligations of BOC and at all times rank equally among themselves. Notes under the program can be any maturity, and may be issued by BOC or any of its branches,...

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