Bank Of China Ltd.#s US$30 Billion MTN Program #A/A-1# Ratings Affirmed Following Upsize

Stocks and Financial Services Press Releases Tuesday April 11, 2017 17:28
HONG KONG--11 Apr--S&P Global Ratings

HONG KONG (S&P Global Ratings) April 11, 2017--S&P Global Ratings today   affirmed its 'A' long-term and 'A-1' short-term issue rating on Bank of China   Ltd.'s (BOC: A/Stable/A-1; cnAA+/--/cnA-1) medium-term notes (MTN) program, after the program was upsized to US$30 billion from US$20 billion. We also affirmed our 'cnAA+' long-term and 'cnA-1' short-term Greater China regional scale ratings on the MTN program. The ratings are subject to our review of the final issuance documentation.

The ratings assigned to the program are applicable to the senior unsecured notes issued by BOC and its overseas branches. The ratings also cover any BOC subsidiary issuances that are guaranteed by an overseas branch of BOC as specified in the relevant pricing supplement.

Senior notes and guaranteed notes under the program constitute direct, general, unsubordinated, unconditional, and unsecured obligations of BOC and at all times rank equally among themselves.
Ratings on individual notes will be subject to our review of their relevant pricing supplement and consideration of any potential sovereign rating caps.

The program allows the issuance of subordinated notes, which we would assess on a case-by-case basis. Index-linked notes may also be issued from the program, however, under our rating criteria, we do not rate the bonds if principal payments are linked to fluctuations in equity or commodity prices, or equity or commodity indices.

BOC reported total consolidated assets of Chinese renminbi (RMB) 18.1 trillion (US$2.6 trillion) at the end of 2016.

Latest Press Release

USD120,000 at stake in CIMBs 3D Conquest to unearth ASEANs top #digital talents Competition sets path for nurturing crucial skills in data science, FinTech and coding among tertiary students

CIMB Group Holdings Berhad ("the Group" or "CIMB") has launched the CIMB 3D Conquest, a competition that aims to identify and attract ASEAN's top creative, young digital talent with an agile and entrepreneurial mindset. Open to all tertiary students, the...

Allianz to become Worldwide Olympic Insurance Partner

The International Olympic Committee (IOC) and Allianz today announced that the insurer will join the "Worldwide Olympic Partner" (TOP) Programme in 2021. Through this sponsorship agreement, Allianz will work with the IOC to provide innovative and...

BYFX Global Co., Limited Announces Business Launch

BYFX Global Co., Limited (BYFX Global) today announced the launch of its retail and institutional business -- offering clients around the globe top-tier liquidity and online OTC trading for Spot FX and Spot Bullion[1]. Striving towards financial...

2018 Robot World to Suggest Direction for the Fourth Industrial Revolution

Showcasing the latest robot technologies from around the world, the 2018 Robot World will be held at KINTEX, Korea from October 10-13, 2018. The Robot World (eng.robotworld.or.kr/wp), celebrating its 13th anniversary this year, consists of four main...

ชวนผู้ประกอบการเรียนรู้เส้นทางความสำเร็จของสตาร์ทอัพแอปพลิเคชัน เคลมดิ อังคาร 25 ก.ย. นี้

ตลาดหลักทรัพย์ฯ ขอเชิญผู้ประกอบการ Social Enterprise (SE) SMEs และ Startup ร่วมอบรมครั้งพิเศษในโครงการ SET Social Impact Gym หัวข้อ "Fintech vs Social Startup... Lesson Learned..." พบกับสตาร์ทอัพเจ้าของแอปพลิเคชัน "เคลมดิ" (Claim Di)...

Related Topics