...October 16, 2020 HONG KONG (S&P Global Ratings) Oct. 16, 2020--S&P Global Ratings today assigned its 'A+' long-term issue rating to the proposed drawdowns by China Development Bank (CDB; A+/Stable/A-1). The senior unsecured notes are a part of China Development Bank's existing US$30 billion debt issuance program which is rated 'A+'. The issue rating is subject to our review of the final issuance documentation. The two proposed long-tenor notes will be denominated in U.S. dollars and euro. The notes will constitute direct, unconditional, unsubordinated, and unsecured obligations of the issuer. In addition, they will at all times rank equally among themselves and at least equal with all other existing and future unsubordinated and unsecured obligations of the issuer from time to time (except for any statutory preference or priority applicable in the winding-up of the bank). The issuer intends to use the proceeds for working capital and general corporate purposes....
