Moody's gives China Development notes A1

Moody's Investors Service said it assigned an A1 rating to the planned dollar-denominated three-year fixed rate senior unsecured green notes to be issued by China Development Bank Hong Kong Branch.

The branch will sell the notes under the bank’s $30 billion debt issuance program.

“The notes' A1 rating and stable outlook are in line with CDB's senior unsecured debt rating and outlook and reflect the structure of the proposed issuance. The A1 rating of CDB's senior unsecured debt is at the same level as the senior unsecured debt rating of the government of China. Very close links between the bank's credit quality and that of the government underpin its rating,” Moody’s said in a press release.

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