Moody's rates Bank of China (Hong Kong)

Moody's Investors Service said it assigned an A1 rating to the foreign-currency subordinated notes to be issued by Bank of China (Hong Kong) Ltd. The rating is contingent upon receipt of final documents.

The outlook is stable.

The rating reflects the bank's solid franchises and financials, the structure of the notes and the possible systemic support from the Hong Kong Government, Moody's said.

The notes would represent direct, unsecured, and subordinated obligations of the bank, the agency said, and the A1 rating is one notch below its senior obligations rating of Aa3.

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