China Merchants Bank New York Branch's U.S. Dollar Benchmark Size MTN Drawdown Rated 'BBB+' And 'cnA+'

HONG KONG (Standard&Poor's) April 30, 2015--Standard&Poor's Ratings Services today assigned its 'BBB+' long-term issue rating to a U.S. dollar benchmark size drawdown of unsubordinated and unsecured notes under the US$5 billion medium-term notes (MTN) program of China Merchants Bank Co. Ltd. (CMB; BBB+/Stable/cnA+). We also assigned our 'cnA+' long-term Greater China regional scale rating to the notes, which the New York branch of the bank will issue. CMB has expanded the coverage of the MTN program to include the bank's branches, including the Hong Kong branch. This expansion does not affect our 'BBB+' rating on the MTN program. The issue ratings on drawdowns by overseas branches could be affected by our sovereign credit ratings on the

...HONG KONG (Standard & Poor's) April 30, 2015--Standard & Poor's Ratings Services today assigned its '###+' long-term issue rating to a U.S. dollar benchmark size drawdown of unsubordinated and unsecured notes under the US$5 billion medium-term notes (MTN) program of China Merchants Bank Co. Ltd. (CMB; ###+/Stable/cnA+). We also assigned our 'cnA+' long-term Greater China regional scale rating to the notes, which the New York branch of the bank will issue. CMB has expanded the coverage of the MTN program to include the bank's branches, including the Hong Kong branch. This expansion does not affect our '###+' rating on the MTN program. The issue ratings on drawdowns by overseas branches could be affected by our sovereign credit ratings on the relevant jurisdictions if the sovereign ratings are lower than the issue rating on the senior unsecured notes. This issue by the New York branch is not affected by this potential rating constraint. In addition, CMB may issue index-linked notes under...

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