Fitch: No change for Bank of China (Hong Kong)

Fitch Ratings said it said that Bank of China (Hong Kong) Ltd.'s long-term issuer default ratings of A and short-term issuer default rating of F1 would not be affected by the planned subordinated credit facility agreement under which the bank's parent, Bank of China, would provide it with a $2.5 billion 10-year loan.

The outlook remains stable.

Despite not being core capital, the new subordinated loan somewhat eases concerns on the bank's notable net exposure to some securities, Fitch said.

Nevertheless, the bank faces a challenging year ahead due to the now difficult economic environment, the agency said.

© 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.