OREANDA-NEWS. Fitch Ratings has assigned Singapore-based Oversea-Chinese Banking Corp's (OCBC; AA-/Stable) AUD300m floating rate notes due 2019 a final rating of 'AA-'. The notes were issued under OCBC's USD10bn 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 01 March 2015.

KEY RATING DRIVERS

The notes are rated at the same level as OCBC's 'AA-' Long-Term Issuer Default Rating (IDR). This is because the notes constitute direct, unsubordinated and unsecured obligations of the bank, and rank equally with all its other unsecured and unsubordinated obligations.

RATING SENSITIVITIES

The rating of the notes is sensitive to changes in OCBC's IDR, which is driven by its Viability Rating of 'aa-'.

For more details on OCBC's ratings and credit profile, see the rating action commentary "Fitch Affirms DBS, DBSH, OCBC and UOB at 'AA-'; Outlook Stable", dated 27 August 2014, and its full rating report, dated 14 October 2014, which are available at www.fitchratings.com.

OCBC's other ratings are as follows:
Long-Term IDR 'AA-'; Outlook Stable
Short-Term IDR 'F1+'
Viability Rating 'aa-'
Support Rating '1'
Support Rating Floor 'A-'