Moody’s gives Standard Chartered A1

Moody's Investors Service said it assigned provisional deposit, issuer and counterparty risk ratings of A1/ P-1 to Standard Chartered AG.

The agency also assigned baseline credit assessment and adjusted baseline credit assessment of baa1 and counterparty risk assessments of A1(cr)/P-1(cr).

The bank is a wholly owned subsidiary of Standard Chartered Bank (deposits A1/ senior unsecured A1 stable, BCA baa1) and is expected to become an important legal entity for the group, providing euro clearing services to Standard Chartered group's clients, Moody’s said.

“SCAG will be a small entity (representing less than 3% of Standard Chartered's total assets), however it is designed to play an important role in the group's European corporate and investment banking business after the United Kingdom's expected exit from the European Union,” the agency said in a news release.

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