Moody’s assigns Industrial Bank bonds Baa2

Moody’s Investors Service said it assigned a Baa2 foreign-currency to the proposed U.S. dollar-denominated senior unsecured bond and a Baa2 local-currency rating to the proposed Hong Kong dollar-denominated senior unsecured bond to be sold by Industrial Bank Co., Ltd.’s Hong Kong Branch.

The bonds will be issued under Industrial Bank’s $5 billion medium-term note program.

The outlook is stable.

“The rating of the senior unsecured bonds is in line with Industrial Bank’s deposit rating. Any changes in Industrial Bank’s deposit rating will lead to a similar rating action on the senior unsecured bonds,” Moody’s said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.