...May 20, 2026 HONG KONG (S&P Global Ratings) May 21, 2026--S&P Global Ratings today assigned its 'A-1' short-term issue rating to fixed-rate notes that Bank of China Ltd.'s (BOC) Frankfurt branch proposes to issue. China-based BOC will draw down the Chinese renminbi-denominated notes from its US$40 billion medium-term note program. The issue rating is subject to our review of the final terms and conditions. Investors can redeem the notes at par on maturity. The notes will constitute direct, general, unsubordinated, unconditional, and unsecured obligations of the issuer, Bank of China Ltd. (Frankfurt Branch). They will at all times rank equally with the branch's other present and future senior unsecured obligations except for those preferred by law. The issuer intends to use the proceeds for general corporate purposes. The rating on the notes reflects our long-term issuer credit rating on BOC (A/Stable/A-1). We view the creditworthiness of the bank's branches as equal to that of the bank....
