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The Bank of East Asia's US$3 Billion Medium-Term Notes Program Assigned Ratings Oct 11
Standard & Poors, October 2011
SINGAPORE (Standard & Poor's) Oct. 3, 2011--Standard & Poor's Ratings Services today assigned the following ratings to the proposed debt issues under the US$3 billion medium-term notes (MTN) program of The Bank of East Asia Ltd.: 'A-/A-2' issue rating and 'cnAA/cnA-1' Greater China credit scale rating on the senior unsecured notes; and 'BBB+' issue rating and 'cnAA-' Greater China credit scale rating on the lower Tier-2 subordinated notes The rating differential between the senior unsecured notes and the lower Tier 2 subordinated notes reflects the latter's subordinated nature. The senior notes will constitute direct, unconditional, unsecured, and unsubordinated obligations of the bank, and shall at all times rank pari passu with all other unsecured obligations. The subordinated notes will constitute...
Companies mentioned in this report are: The Bank of East Asia Ltd.
Action: New Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
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The Bank of East Asia Ltd.