S&P reviews Standard Chartered

Standard & Poor's said it put the following Standard Chartered entities on CreditWatch with negative implications: Standard Chartered plc, Standard Chartered Bank, Standard Chartered Bank (Hong Kong) Ltd., Standard Chartered Bank (China) Ltd., Standard Chartered Bank Korea Ltd. and Standard Chartered Bank (Taiwan) Ltd.

The agency also placed all national and regional scale issuer and issue ratings on the various entities of the group on CreditWatch with negative implications.

"We placed the Standard Chartered ratings on CreditWatch because we expect the recovery in the group's performance to be protracted and see a risk that management may not be able to bolster profitability in view of the weakening operating environment," S&P credit analyst Terry Sham said in a news release.

"However, we note that management is making strides in delivering the group's strategy devised during 2015 and set out in November 2015."

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