Fitch rates Bank of China (Hong Kong) notes A-

Fitch Ratings said it assigned an A- rating to Bank of China (Hong Kong) Ltd.'s $900 million of lower tier 2 subordinated notes due February 2020. The bank's long-term issuer default rating was maintained at A and short-term issuer default rating at F1.

The outlook is stable.

The notes will rank pari passu and be consolidated to form a single series with the bank's $1.6 billion subordinated notes issued in February 2010. The notes represent direct, unsecured and subordinated obligations of the bank and carry a fixed-rate coupon with maturity in February 2020.

The bank is Hong Kong's second-largest bank in terms of total assets, customer loans and deposits, Fitch said, and its immediate holding company, BOC (Hong Kong) Holdings Ltd., is publicly-listed on the Hong Kong stock exchange.

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