China Development Bank Corp.'s Proposed Drawdown Under Its RMB30 Billion DIP Rated 'AA-' and 'cnAAA'

HONG KONG (Standard&Poor's) Sept. 25, 2015--Standard&Poor's Ratings Services today assigned its 'AA-' long-term foreign currency issue rating to the proposed drawdown by China Development Bank Corp. (CDB: AA-/Stable/A-1+; cnAAA/cnA-1+) under its Chinese renminbi (RMB) 30 billion Debt Issuance Program (DIP) (not rated). We also assigned our 'cnAAA' long-term Greater China scale rating to the proposed notes. Our ratings are subject to our review of the final documentation related to the transaction. We have equalized the issue ratings with the counterparty credit rating on CDB. The issuer's obligations under the DIP will rank equally with its other unsubordinated and unsecured indebtedness. RELATED CRITERIA AND RESEARCH Related Criteria National and Regional Scale Credit Ratings, Sept 22, 2014 Rating

...HONG KONG (Standard & Poor's) Sept. 25, 2015--Standard & Poor's Ratings Services today assigned its '##-' long-term foreign currency issue rating to the proposed drawdown by China Development Bank Corp. (CDB: ##-/Stable/A-1+; cnAAA/cnA-1+) under its Chinese renminbi (RMB) 30 billion Debt Issuance Program (DIP) (not rated). We also assigned our 'cnAAA' long-term Greater China scale rating to the proposed notes. Our ratings are subject to our review of the final documentation related to the transaction. We have equalized the issue ratings with the counterparty credit rating on CDB. The issuer's obligations under the DIP will rank equally with its other unsubordinated and unsecured indebtedness. RELATED CRITERIA AND RESEARCH Related Criteria + National and Regional Scale Credit Ratings, Sept 22, 2014 + Rating Government-Related Entities: Methodology And Assumptions, March 25, 2014 + Banks: Rating Methodology And Assumptions, Nov. 9, 2011 Complete ratings information is available to subscribers...

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