Fitch rates Dah Sing Bank notes BBB+

Fitch Ratings said it assigned a BBB+ rating to Dah Sing Bank Ltd.'s $225 million lower tier 2 subordinated notes due in February 2020. Its long-term issuer default rating is A- and short-term issuer default rating is F2.

The outlook is stable.

The ratings reflect the bank's good capitalization and prudent risk management, Fitch said.

The bank has improved its capital strength, liquidity and balance sheet flexibility amid difficult operating conditions since early 2008 by reducing its loan portfolio and shifting funds into shorter-maturity and lower-risk assets, the agency said.

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