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Moody’s rates Agricultural Bank of China notes A1
Moody's Investors Service said it assigned an A1 rating to the proposed three-year dollar-denominated notes to be issued by Agricultural Bank of China Ltd. Hong Kong Branch.
The outlook notes is stable.
The proposed notes will be issued pursuant to the bank’s $15 billion medium-term note program.
The A1 debt rating is in line with the issuer’s long-term deposit rating and reflects the structure of the proposed issuance.
Moody’s said the senior notes will constitute the Agricultural Bank of China’s direct, unconditional, unsubordinated, and unsecured obligations. They will be issued with a fixed-rate coupon and will be redeemable at principal on maturity.
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