Fitch reviews Standard Chartered

Fitch Ratings said it placed a number of ratings of Standard Chartered plc and its subsidiaries under criteria observation.

The placement follows the publication of updated bank rating criteria on Friday which changed the way Fitch rates operating company subsidiaries of banking groups headed by bank holding companies. It also changed the way Fitch notches senior and junior ratings from the issuer default rating or viability rating anchors.

“The updated criteria better reflect continuing developments in bank resolution, including bank resolution plans and the build-up of bail-in debt buffers that protect more senior creditors and the implication for default risk and recovery prospects for different senior and junior liability classes as well as bank and non-bank financial institution operating companies relative to bank holding companies,” Fitch said in a press release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.