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Fitch gives OCBC notes AA-
Fitch Ratings said it gave Oversea-Chinese Banking Corp. Ltd.’s A$700 million of senior unsecured floating-rate notes due April 2025 an AA- rating. The notes will be issued on April 14 through OCBC's Sydney branch under the bank's $30 billion global medium-term note program.
“The notes are rated at the same level as OCBC's AA- long-term issuer default rating (IDR) as they constitute direct, unsecured, and unsubordinated obligations of the bank, and rank equally with all its other unsecured and unsubordinated obligations,” Fitch said in a press release.
The proceeds will be used for general corporate purposes.
The outlook is stable.
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