Fitch affirms Standard Chartered First Bank

Fitch Ratings said it affirmed Standard Chartered First Bank's long-term foreign-currency issuer default rating at A, along with its hybrid securities at BBB+.

The outlook is stable.

The ratings reflect the high probability of support from its parent, Standard Chartered Bank, which has A+ ratings and a stable view.

The ratings also consider the bank's modest profitability and adequate funding profile, Fitch said, but also takes into account its sound loan quality and capitalization.

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