Moody's rates ICBC notes A1

Moody's Investors Service said it assigned an A1 rating to the $275 million senior unsecured notes drawn under the $300 million foreign-currency euro medium-term note program of Industrial and Commercial Bank of China (ICBC), Singapore branch.

The outlook is stable.

The ratings are the same as those on the bank's long-term foreign-currency deposits, Moody's said.

The senior notes represent direct, unconditional, unsecured and unsubordinated obligations of the bank and will at all times rank pari passu, the agency said.

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