Fitch cuts view of some Hong Kong banks

Fitch Ratings said in a new report that that it believes Hong Kong's banks are generally well placed to withstand the significant level of asset quality stress that is likely to arise over the next couple of years as the Hong Kong economy slows on the back of weakening growth globally, and in particular, in China.

The agency said the banks have robust financial standing and are maintaining generally good levels of capitalization, even by increasingly demanding standards.

However, Fitch said it downgraded the outlook of some of its rated banks due to downside risks and less robust financial profiles.

Chong Hing Bank's issuer default rating was affirmed at BBB+ and its outlook was revised to negative from stable.

Dah Sing Bank's issuer default rating was affirmed at A- and its outlook was revised to negative from stable.

Wing Hang Bank's issuer default rating was affirmed at A- and its outlook was revised to negative from stable.

Citic Ka Wah Bank's issuer default rating was affirmed at BBB+ and its outlook revised to stable from positive.

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