Fitch gives ICBC notes A

Fitch Ratings said it gave an expected A rating to Industrial and Commercial Bank of China Ltd.’s planned dollar-denominated senior unsecured notes to be issued under its global medium-term note program through Industrial and Commercial Bank of China (Macau) Ltd. The agency also rates the program A. The size and tenor of the offering are to be determined.

The proceeds will be used to support the bank's general funding needs and lending in connection with China's "Belt and Road Initiatives," including in Portuguese-speaking countries.

The outlook is stable.

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