Moody's: Oversea-Chinese Banking notes Aa1

Moody's Investors Service said it assigned an Aa1 rating to Oversea-Chinese Banking Corp Ltd.'s proposed draw down of Australian dollar-denominated senior notes through its Sydney Branch from its $10 billion global medium-term note program.

The senior notes will have a three-year maturity and will be listed on the Singapore Exchange.

The outlook is stable.

Moody's said Oversea-Chinese Banking's credit rating is among the highest assigned to any financial institution globally, based on its conservative risk profile, relatively steady financial performance, and strong capital position, with a 16.6% tier 1 ratio as of December 2012.

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