Moody’s rates China Development notes A1

Moody’s Investors Service said it rated China Development Bank Hong Kong Branch’s planned senior unsecured notes A1.

The branch plans to issue U.S. dollar-denominated five-year fixed-rate notes and Hong Kong dollar-denominated three-year fixed-rate notes. The notes will be sold under the bank’s $30 billion medium-term note program.

“The assigned ratings are in line with CDB's senior unsecured MTN program rating and reflect the structure of the proposed issuance,” Moody’s said in a press release.

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