Fitch affirms Chong Hing Bank

Fitch Ratings said it affirmed Chong Hing Bank Ltd.'s long-term foreign-currency issuer default rating at BBB+, viability rating at BBB+, short-term foreign-currency issuer default rating at F2 and subordinated notes at BBB.

The ratings reflect its sound capitalization and adequate liquidity, as well as a track record of well-managed asset quality, Fitch said.

The ratings remain constrained by significant single-name concentrations, concentration of its loans in property-related sectors, small franchise in Hong Kong and modest profitability, the agency said.

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