Moody’s rates ABC notes A1

Moody's Investors Service said it assigned A1 ratings to the planned dollar-denominated two-year SOFR floating-rate and Hong Kong dollar-denominated two-year fixed-rate senior unsecured notes to be issued by Agricultural Bank of China Ltd.’s Hong Kong Branch. The notes will be issued under the bank’s $15 billion medium-term note.

“The assigned ratings are in line with ABC's senior unsecured MTN program rating, reflecting the structure of the issuance,” Moody’s said in a press release.

The proceeds will be used for general corporate purposes.

The outlook is stable.

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