S&P affirms Standard Chartered

S&P said it affirmed the BBB+/A-2 issuer credit ratings on Standard Chartered plc and affirmed the A/A-1 issuer credit ratings on Standard Chartered Bank.

The agency also affirmed all existing long-term issue credit ratings on senior unsecured and hybrid capital instruments issued by both entities.

S&P affirmed the A/A-1 issuer credit ratings on Standard Chartered Bank (China) Ltd. and the A-/A-2 issuer credit ratings on Standard Chartered Bank Korea Ltd.

At the same time, the agency affirmed the A+/A-1 issuer credit ratings on Standard Chartered Bank (Hong Kong) Ltd.

The outlook is stable.

“We affirmed the ratings to reflect our view that the Standard Chartered group will continue to make steady progress to restore its balance sheet strength and asset quality, work towards higher returns, while maintaining robust funding and liquidity profiles,” S&P said in a news release.

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