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

Fitch Downgrades CGS-CIMB TH to #A(tha)/F1(tha)#; Off Outlook Stable

Fitch Ratings (Thailand) has downgraded CGS-CIMB Securities (Thailand) Co., Ltd.'s (CGS-CIMB TH) National Long-Term Rating to 'A(tha)' from 'AA-(tha)' and National Short-Term Rating to 'F1(tha)' from 'F1+(tha)'. All ratings have been removed from Rating...

Commons Foundation Signs Contract for Blockchain Business Backed by the Paraguay Government

Combining Paraguay's low-cost and abundant electricity with the Commons Foundation's expertise in blockchain technology, the world's largest cryptocurrency mining center and global exchange is to be established. - The "Golden Goose" project will...

mai welcomes real estate developer CMC on November 19

Market for Alternative Investment (mai) will list Chaoprayamahanakorn pcl, a leading real estate developer onNovember 19, under the ticker symbol "CMC". The company has a market capitalization at its initial public offering (IPO) of THB 3.00 billion...

KTC - Chilito Mexican Grill - Farm Factory provide members special privileges for payments made using QR Pay in the KTC Mobile app.

Mrs. Pranaya Nithananon, Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited, provides KTC VISA and KTC MasterCard credit card members who make payments through KTC QR Pay in the "KTC Mobile" app worth Bt. 300 or more...

Photo Release: KBank opens new flagship branch and THE WISDOM Lounge at ICONSIAM

Mr. Wirawat Panthawangkul (3rd from left), KBank Senior Executive Vice President, and Ms. Chadatip Chutrakul (4th from left), Director of ICONSIAM Co., Ltd., and Chief Executive Officer of Siam Piwat Co., Ltd., participated in the opening ceremony of...

Related Topics