Moody’s rates China Eximbank

Moody's Investors Service said it assigned an Aa3 rating to the dollar-denominated and euro- denominated senior unsecured bonds to be issued by the Export-Import Bank of China (China EXIM).

The outlook is negative.

The Aa3 rating is the same as the ratings on the bank’s other senior unsecured debt, Moody’s said, and reflects the structure of the proposed issuance.

The bonds will constitute the bank's direct, unconditional, unsubordinated and unsecured obligations, the agency added, and will at all times rank pari passu among themselves and at least pari passu with all other existing and future unsubordinated and unsecured debt of the bank.

China Eximbank is a policy bank wholly owned by the Chinese government, Moody’s noted.

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