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(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.
-- Banks: Rating Methodology And Assumptions, Nov. 9, 2011