TEXT-Fitch Assigns BOC Aviation's Senior Notes Final 'A-' Rating

(The following was released by the rating agency)

SINGAPORE, October 10 (Fitch) Fitch Ratings has assigned BOCAviation Pte Ltd's (BOC Aviation) USD500m 2.875% senior notesdue 2017, issued under its USD2bn euro medium-term noteprogramme, a final rating of 'A-'. This follows the completionof the notes issue and receipt of final documents conforming toinformation previously received. The final rating is same as theexpected rating assigned on 27 September 2012.

The notes are rated at the same level as BOC Aviation's 'A-'Long-Term Issuer Default Rating (IDR). This is because the notesconstitute direct, unsubordinated and senior unsecuredobligations of the company, and rank equally with all its otherunsecured and unsubordinated obligations.

The IDR, presently on a Stable Outlook, reflects Fitch'sview of a very high probability of extraordinary support to BOCAviation from its ultimate parent, Bank of China Limited (BOC;'A'/Stable). Any perceived changes in BOC's propensity andability to provide support would impact BOC Aviation's IDR andhence the issue rating.

Proceeds from the company's maiden senior notes are to fundnew capital expenditure and general corporate purposes.

For more details on BOC Aviation's ratings and creditprofile, see "Fitch Rates BOC Aviation 'A-'; Outlook Stable",dated 25 June 2012, and BOC Aviation's full rating report, dated13 September 2012, available at .

Keywords: MARKETS RATINGS BOCAVIATION