Moody's rates ICBC notes A1

Moody's Investors Service said it assigned an A1 rating to the $300 million senior unsecured notes drawn under the $900 million foreign currency euro medium-term note program of the Industrial and Commercial Bank of China (ICBC), Singapore branch.

The program was upsized from $300 million to $900 million in March.

The outlook is stable.

"The rating and outlook on the senior unsecured notes are the same as those on ICBC's long-term foreign currency deposits," Moody's vice president and senior analyst Bin Hu said in a news release.

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