Moody's rates Citic Bank notes Baa3

Moody's Investors Service said it assigned a Baa3 rating to the foreign-currency subordinated notes to be issued under the medium-term note program by Citic Bank International Ltd. The bank has a bank financial strength rating of D+, long-term foreign bank deposits of Baa2, long-term domestic bank deposits of Baa2,

long-term foreign deposit note/CD program of Baa2, long-term domestic deposit note/CD program of Baa2, senior unsecured foreign medium-term notes of Baa2, subordinated foreign debt of Baa3, subordinated foreign medium-term notes of Baa3, junior subordinated foreign medium-term notes of Ba1, backed junior subordinated foreign debt of Ba1, short-term foreign bank deposits of prime-2, short-term domestic bank deposits of prime-2, short-term foreign deposit note/CD program of prime-2 and short-term deposit note/CD program of prime-2.

The outlook is stable.

The rating is subject to the receipt of final documents.

The newly assigned rating reflects the bank's solid capital base, the structure of the notes and possible parental support - if required - from China Citic Bank, Moody's said.

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