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OCBC Australian notes due 2019 get final rating of 'AA-': Fitch Ratings
Fitch Ratings has assigned Singapore-based Oversea-Chinese Banking Corp's (OCBC; AA-/Stable) A$300 million floating rate notes due 2019 a final rating of 'AA-'.
The notes were issued under OCBC's US$10 billion global medium-term note programme.
This follows the completion of the notes issue, as well as the receipt of final documents conforming to information previously received.
The final rating is same as the expected rating assigned on March 1, 2015.
The notes are rated at the same level as OCBC's 'AA-' Long-Term Issuer Default Rating (IDR).
Fitch says it is because the notes constitute direct, unsubordinated and unsecured obligations of the bank, and rank equally with all its other unsecured and unsubordinated obligations.