(The following statement was released by the rating agency)
March 06 - Standard & Poor's Ratings Services today assigned its 'A-' issue rating and 'cnAA' Greater China scale credit rating to the issue of subordinated notes by The Bank of East Asia Ltd. (BEA: A/Stable/A-1; cnAA+/cnA-1). The notes are a drawdown from the bank's existing US$3 billion medium-term notes program. The notes are an unsecured and subordinated obligation of BEA and will rank pari passu with all other unsecured and subordinated obligations of the bank.
RELATED CRITERIA AND RESEARCH
-- Banks: Rating Methodology And Assumptions, Nov. 9, 2011