Moody's: Awarding the Hong Kong branch of Bank of Communications (600000.SH) a "Baa2" rating for its proposed issuance of Renminbi Magnolia Bonds.

On July 15th, Moody's awarded Shanghai Pudong Development Bank Co., Ltd. (referred to as "SPDB", stock code 600000.SH) Hong Kong branch a "Baa2" rating for its proposed issuance of RMB-denominated, 3-year, fixed-rate senior unsecured magnolia bonds. These magnolia bonds belong to SPDB's $5 billion medium term note program.