S&P Global Ratings has placed an A long-term issue rating on Bank of China (HKG:3988, SHA:601988) Sydney branch's proposed floating rate notes, according to a Tuesday release.
The notes will serve as the issuer's obligations and will rank equally with its other obligations.
The notes' rating is similar to Bank of China's long-term issue credit rating since S&P views the branches' credit profile as being in line with that of the bank.
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