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Prospect News home > News index > List of issuers O > Headlines for Oversea-Chinese Banking Corp. Ltd. > News item |
Fitch rates Oversea-Chinese Banking notes AA-
Fitch Ratings said it assigned an expected rating of AA- to Oversea-Chinese Banking Corp.'s proposed three-year Australian dollar-denominated senior unsecured notes.
The notes will be issued by the bank's Sydney branch under its $5 billion program for issuance of debt instruments.
The notes are rated at the same level as the bank's AA- long-term foreign-currency issuer default rating because they will constitute direct and unsecured obligations of the bank, Fitch said, and will rank equally with all its unsecured and unsubordinated obligations.
The bank also has a short-term foreign-currency issuer default rating at F1+.
The proceeds will be used for the bank's general corporate purposes.
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