Fitch Rates ICBC Basel III Notes ‘BBB+(exp)’

Fitch Ratings has assigned Industrial and Commercial Bank of China (Asia) Ltd’s (ICBC Asia; A/Stable) upcoming 10-year Basel III-compliant Tier 2 subordinated notes an expected ‘BBB+(exp)’ rating. ICBC Asia expects to issue around USD500mn direct, unsecured, and subordinated obligations under its USD5bn medium-term note programme to strengthen its capitalisation for future business growth. The notes […]

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