Issuers Credit Rating

16/03/2012

Below is a table setting out issuers' current credit ratings awarded by the Exchange recognized rating agencies – (i) Moody's; and (ii) Standard and Poor's (S&P). The table will generally be updated after market close when there is a change of credit rating notified by the issuer. Users should refer to real-time information services for the latest ratings.

Please note that the creditworthiness of the issuer and its guarantor, among other things should be considered carefully before dealing in structured products. Details of the risk factors and credit ratings can be found in the issuers' listing documents published on the HKExnews website. Listing of structured products is governed by Chapter 15A of the Main Board Listing Rules.

No.	Issuer Name	Guarantor Name	Credit Rating¹
No.	Issuer Name	Guarantor Name	Moody's	S&P
Based on credit rating requirement
1.	Barclays Bank PLC	N/A	Aa3	A+
2.	BNP Paribas Arbitrage Issuance B.V.	BNP Paribas	Aa3	AA-
3.	Citigroup Global Markets Holdings Inc.	N/A	A3	A-
4.	Credit Suisse AG	N/A	Aa1	A+
5.	DBS Bank Ltd.	N/A	Aa1	AA-
6.	Deutsche Bank AG	N/A	Aa3	A+
7.	Goldman Sachs Structured Products (Asia) Limited	The Goldman Sachs Group, Inc	A1	A-
8.	The Hongkong and Shanghai Banking Corporation Limited	N/A	Aa1	AA-
9.	J.P. Morgan Structured Products B.V.	JPMorgan Chase Bank, National Association	Aa1	A+
10.	KBC Financial Products International Ltd.	KBC Bank NV	A1	A-
11.	Macquarie Bank Limited	N/A	A2	A
12.	Merrill Lynch International & Co. C. V.	Bank of America Corporation	Baa1	A-
13.	Nomura International plc	Nomura Bank International plc	-	A-
14.	Cooperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank)	N/A	Aaa	AA
15.	The Royal Bank of Scotland N.V.	N/A	A2	A
16.	SGA Societe Generale Acceptance N.V.	Societe Generale	A1	A
17.	Standard Chartered Bank	N/A	A1	AA-
18.	UBS AG	N/A	Aa3	A
Based on other regulatory requirements²
1.	Bank of China (Hong Kong) Limited	N/A	Aa3	A+
2.	The Bank of East Asia, Limited	N/A	A2	A
3.	BOCI Asia Limited	N/A	-	-
4.	Daiwa Capital Markets Hong Kong Limited	N/A	-	-

Notes

If the structured product is a guaranteed issue, the rating shown is for the guarantor.
These issuers did not meet the credit rating requirement but relied on the other regulatory requirements in accordance with the Main Board Listing Rule 15A.13(2) & (3) when the Exchange approved its application as the structured product issuer.