Fitch rates Oversea-Chinese notes A+

Fitch Ratings said it assigned Oversea-Chinese Banking Corp.'s proposed U.S. dollar-denominated subordinated notes an expected rating of A+(exp).

The notes will be issued under the company's $10 billion global medium term note program.

The notes are rated one notch below the company's aa- viability rating to reflect their subordinated status and the absence of any going-concern loss-absorption mechanism.

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