Moody’s rates Icbcil Finance program A3

Moody's Investors Service said it assigned a provisional A3 long-term senior unsecured program rating to Icbcil Finance Co. Ltd.’s $5 billion medium-term note program.

Icbcil Finance, incorporated in Hong Kong, is an indirect wholly owned subsidiary of Industrial & Commercial Bank of China Ltd (ICBC, A1 stable) and a sister company of ICBC Financial Leasing Co., Ltd. (A2 stable).

The outlook is stable.

Moody’s said the program rating reflects: (a) Icbcil Finance's important role in ICBC group's overseas leasing business; and (b) ICBC Financial Leasing's very strong willingness to support Icbcil Finance's obligations.

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