...June 18, 2020 HONG KONG (S&P Global Ratings) June 18, 2020--S&P Global Ratings today assigned its 'A' long-term issue rating to the proposed drawdowns by Bank of China Ltd. (Hong Kong Branch). The senior unsecured notes are a part of Bank of China Ltd.'s US$40 billion medium-term note (MTN) program. The issue rating is subject to our review of the final issuance documentation. The proposed notes will be denominated in U.S. dollars, and redeemable at par on maturity. They will constitute direct, general, unsubordinated, unconditional, and unsecured obligations of the issuer. They will at all times rank equally among themselves, save for such obligations as may be preferred by provisions of law. The issuer intends to use the proceeds for general corporate purposes. We equalize the issue rating on the proposed notes with the long-term issuer credit rating on Bank of China (A/Stable/A-1). We view the creditworthiness of the bank's branches as the same as that of the bank, according to our criteria....
