Moody’s rates ICBC London program A1

Moody's Investors Service said it assigned a provisional A1 long-term rating to the $10 billion medium-term note program to be established by Industrial and Commercial Bank of China Ltd. (ICBC), London Branch.

The agency also assigned A1(cr)/P-1(cr) counterparty risk assessments to ICBC London branch.

The outlook is stable.

The provisional rating is in line with ICBC's long-term deposit rating and reflects the structure of the proposed issuance.

Moody’s said the provisional A1 rating applies only to the senior notes with a maturity of at least one year. It does not apply to notes with a maturity of less than one year or to subordinated notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.