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Fitch lowers Standard Chartered to view negative
Fitch Ratings said it revised the outlook on Standard Chartered plc and its subsidiary Standard Chartered Bank to negative from stable.
The agency also affirmed Standard Chartered’s long-term issuer default rating at AA-, along with its short-term issuer default and debt ratings at F1+,viability rating at AA-, senior unsecured debt at AA-, dated subordinated debt at A+ and capital securities at BBB.
Standard Chartered Bank’s long-term issuer default rating was affirmed at AA-, short-term issuer default and debt ratings at F1+, viability rating at AA-, senior unsecured debt at AA-, dated subordinated debt at A+, upper tier 2 notes at A- and capital securities at BBB+.
The outlook revision follows an assessment of the group’s capital profile and expectations for capital relative to the risks attached to its operations in higher-risk markets, including mainland China, Fitch said.
Weaker earnings and internal capital generation capacity relative to the bank’s risk exposure also are key considerations, the agency said.
There is pressure on capital from potentially weaker income generation as structural factors limit growth prospects, Fitch added.
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