Bank of China Ltd.'s Proposed MTN Drawdowns By Various Branches Assigned 'A' Ratings

HONG KONG (S&P Global Ratings) April 9, 2019--S&P Global Ratings today assigned its 'A' long-term issue ratings to proposed drawdowns under the US$40 billion medium-term note (MTN) program of Bank of China Ltd. (BOC: A/Stable/A-1). The issuing branches of the proposed senior unsecured notes include Hong Kong, Macau, Sydney, Luxemburg, and Frankfurt. The issue ratings are subject to our review of the final issuance documentation. We have equalized the issue ratings on the senior notes with the issuer credit rating on BOC. We view the creditworthiness of the bank's branches as the same as that of the bank, according to our criteria. The notes issued constitute direct, unconditional, unsubordinated, and unsecured obligations of the issuer and will at all times

...April 9, 2019 HONG KONG (S&P Global Ratings) April 9, 2019--S&P Global Ratings today assigned its 'A' long-term issue ratings to proposed drawdowns under the US$40 billion medium-term note (MTN) program of Bank of China Ltd. (BOC: A/Stable/A-1). The issuing branches of the proposed senior unsecured notes include Hong Kong, Macau, Sydney, Luxemburg, and Frankfurt. The issue ratings are subject to our review of the final issuance documentation. We have equalized the issue ratings on the senior notes with the issuer credit rating on BOC. We view the creditworthiness of the bank's branches as the same as that of the bank, according to our criteria. The notes issued constitute direct, unconditional, unsubordinated, and unsecured obligations of the issuer and will at all times rank equally among themselves. The issuer intends to use the proceeds for general corporate purposes....

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