Fitch: Disclosure update does not impact rating on BOC Aviation’s MTN

The ‘A-‘ rating assigned to BOC Aviation Pte Ltd’s (BOC Aviation) US$5bn global medium-term note programme is not impacted by the recent update to its programme documents, says Fitch Ratings. The updated disclosures include references to BOC Aviation’s application in March 2016 for a potential listing of its shares on the main board of the Hong Kong Stock Exchange. There have been no additional changes to the terms and conditions governing the programme. Up to 40% of BOC Aviation’s shares held by its parent, Bank of China Ltd (BOC, A/Stable), may be listed. BOC expects to retain a substantial majority