Bank of China Group Investment Ltd.'s Proposed MTN Drawdown Assigned 'A' Rating

HONG KONG (S&P Global Ratings) Nov. 27, 2019--S&P Global Ratings today assigned its 'A' long-term issue rating to the proposed U.S.-dollar-denominated senior unsecured drawdown under Amipeace Ltd.'s HK$20 billion medium-term notes (MTN) program. Amipeace is a special-purpose company of Bank of China Group Investment Ltd., which is wholly owned by Bank of China Ltd. (BOC; A/Stable/A-1). The issue rating is subject to our review of the final issuance documentation. BOC's Macau branch unconditionally and irrevocably guarantees the notes. The guarantee constitutes direct, general, unsubordinated, unconditional, and unsecured obligations of the branch. At all times the notes rank equally among themselves, except for any statutory preference or priority applicable in the winding-up of the branch. The issue rating on the proposed

...November 27, 2019 HONG KONG (S&P Global Ratings) Nov. 27, 2019--S&P Global Ratings today assigned its 'A' long-term issue rating to the proposed U.S.-dollar-denominated senior unsecured drawdown under Amipeace Ltd.'s HK$20 billion medium-term notes (MTN) program. Amipeace is a special-purpose company of Bank of China Group Investment Ltd., which is wholly owned by Bank of China Ltd. (BOC; A/Stable/A-1). The issue rating is subject to our review of the final issuance documentation. BOC's Macau branch unconditionally and irrevocably guarantees the notes. The guarantee constitutes direct, general, unsubordinated, unconditional, and unsecured obligations of the branch. At all times the notes rank equally among themselves, except for any statutory preference or priority applicable in the winding-up of the branch. The issue rating on the proposed notes has been equalized with the long-term issuer credit rating on BOC to reflect our view that the guarantee is irrevocable, unconditional, and timely--and...

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