S&P ups Standard Chartered outlook to stable

Standard & Poor's said it revised its outlook on Standard Chartered Bank to stable from negative.

At the same time, the agency said it affirmed its A+/A-1 long- and short-term counterparty credit ratings.

Furthermore, the agency said it revised the outlooks on Standard Chartered's holding company, Standard Chartered plc, and on its three subsidiaries, Standard Chartered Bank (Hong Kong) Ltd., Standard Chartered Bank (China) Ltd., and Standard Chartered Bank (Taiwan) Ltd., to stable from negative and affirmed the long- and short-term counterparty credit ratings on these entities.

"The outlook revision reflects its view that Standard Chartered will likely demonstrate another year of resilient earnings in 2010 and, supported by generally favorable economic conditions in its main markets, also over the rating horizon," said S&P credit analyst Giles Edwards.

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