Moody's lowers Standard Chartered Bank

Moody's Investors Service said it downgraded the subordinated debt rating of Standard Chartered Bank and Standard Chartered plc by one notch to Baa2 from Baa1.

All of the other ratings, including the Standard Chartered Bank's deposit and senior unsecured debt ratings, and Standard Chartered plc's senior unsecured debt ratings, were affirmed.

The bank's baseline credit assessment also was affirmed at Baa1.

The outlook remains stable.

Standard Chartered is the listed holding company of the Standard Chartered group and Standard Chartered Bank is the group's principal operating subsidiary, Moody's said.

The bank's baseline credit assessment reflects strong capital and liquidity and weak profitability, the agency said.

The ratings reflect the group's strong capital and liquidity, as well as its healthy funding structure, Moody's said.

The ratings also consider the bank's weak profitability of the group.

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