Hong Kong banks FSRs adjusted for new rating scheme by Moody's

HONG KONG (AFX-ASIA) - Moody's Investors Service said it adjusted its bank financial strength ratings for Hong Kong banks to implement its new minus sign modifiers.



           In a statement, it said the rating adjustments do not reflect any change in the credit profile or financial strength of the banks affected.



           The rating outlooks and outstanding review remain unchanged, it said.



           "All the Hong Kong banks have stable rating outlooks, except for Hang Seng Bank and the Hong Kong and Shanghai Banking Corp, whose constrained long-term foreign currency ratings have positive outlooks in line with Moody's positive outlook for the (Hong Kong's) long-term foreign currency country ceiling," it said.



           Moody's said the adjustments are intended to make a more finely tuned differentiation among the relative financial strengths of financial institutions globally.



           The adjusted bank financial strength ratings are:



       



           The Hongkong and Shanghai Banking Corp: B, unchanged



           Hang Seng Bank Ltd: B, unchanged



           Dao Heng Bank Ltd: C, unchanged (on review for possible upgrade)



           Shanghai Commercial Bank Ltd: C, unchanged



           Wing Lung Bank Ltd: C, unchanged



           The Bank of East Asia Ltd: from D+ to C-



           Dah Sing Bank, Ltd: from D+ to C-



           Wing Hang Bank Ltd: from D+ to C-



           CITIC Ka Wah Bank Ltd: from D to D+



       



           BOC HK-incorporated sister banks:



           Nanyang Commercial Bank Ltd: C, unchanged



           Po Sang Bank Ltd: C, unchanged



           Chiyu Banking Corp, Ltd: from D+ to C- 



           Hua Chiao Commercial Bank Ltd: from D+ to C- 



               



           BOC China-incorporated sister banks:



           The China & South Sea Bank Ltd: from D to D+



           The China State Bank Ltd: from D to D+



           Kincheng Banking Corp: from D to D+



           The Kwangtung Provincial Bank: from D to D+



           The National Commercial Bank: from D to D+



           The Yien Yieh Commercial Bank Ltd: from D to D+



           Sin Hua Bank Ltd: D, unchanged

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