Fitch: China Everbright Bank notes BBB

Fitch Ratings said it assigned an expected BBB rating to China Everbright Bank, Hong Kong branch's proposed long-term senior unsecured dollar-denominated notes to be issued under its medium-term note program.

The Hong Kong branch is part of the legal entity, China Everbright Bank, Fitch explained.

That is why the notes issued under the bank’s medium-term notes program ultimately represent direct, unconditional, unsecured and unsubordinated obligations of China Everbright Bank, Fitch said, and are rated in line with its long-term issuer default rating.

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