S&P assigns Bocom TCDs A-

Standard & Poor's said it assigned its A- long-term issue rating to a medium-term transferable certificate of deposit (TCD) program under which the Sydney branch of Bank of Communications Co. Ltd. (Bocom; A-/stable/A-2; cnAA/cnA-1) may issue up to a maximum aggregate amount of $2 billion.

The agency also assigned its cnAA long-term Greater China regional scale rating to the program.

The ratings have been equalized to the long-term counterparty credit rating on the bank.

All TCDs issued under the program will rank equally among themselves and at least equally with all other present and future unsecured and unsubordinated obligations, except obligations mandatorily preferred by law.

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