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Article: CHINA: RATINGS TO NEW HONG KONG BANKING SUBSIDIARY OF STANDARD CHARTERED BANK.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- February 29, 2004
CopyrightCOPYRIGHT 2004 Info-Prod (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Moody's assigned a prospective first-time issuer rating of (P)A2 to the proposed new Hong Kong banking subsidiary of Standard Chartered Bank. The rating agency also assigned the new subsidiary a short-term issuer rating of (P)Prime-1 and a bank financial strength rating of (P)C. In addition, Moody's said that it expected to affirm all the ratings of Standard Chartered Bank and Standard Chartered PLC. The prospective ratings of the new subsidiary reflect its strong franchise in a few niche Hong Kong markets (eg: credit cards) and its adequate intrinsic financial strength. The new subsidiary will be comprised of existing businesses with a demonstrated record of ...