S&P rates China Everbright Bank notes BBB+

S&P said it assigned its BBB+ long-term issue rating to the proposed dollar-denominated senior unsecured notes to be sold by China Everbright Bank Hong Kong Branch.

The proposed notes will constitute direct, general, unconditional, unsecured and unsubordinated China Everbright Bank Co. Ltd. obligations.

“The rating on the notes reflects our long-term issuer credit rating on CEB (BBB+/stable/A-2). We view the creditworthiness of the Hong Kong branch as equal to that of CEB,” S&P said in a press release.

The issuer plans to use the proceeds for general corporate purposes.

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