Moody’s rates ICBC Luxembourg notes A1

Moody's Investors Service said it assigned an A1 rating to the proposed dollar- and euro-denominated senior unsecured notes to be issued by Industrial and Commercial Bank of China’s Luxembourg Branch.

The outlook is stable.

The agency said the A1 rating is in line with the bank’s long-term deposit rating, and reflects the structure of the proposed issuance.

The notes will constitute direct, general, unsubordinated, unconditional and unsecured obligations of the bank, and will be redeemable at par.

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