S&P rates China Development notes A+

S&P said it assigned an A+ long-term issue rating to the three-year and five-year Chinese renminbi-denominated fixed-rate senior unsecured notes that China Development Bank Hong Kong Branch plans to issue.

The notes are drawdowns from the bank's $30 billion debt issuance program, which is rated A+.

The bank intends to use the proceeds for general corporate purposes.

The outlook is stable.

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