Fitch affirms DBS (Hong Kong)

Fitch Ratings said it affirmed DBS Bank (Hong Kong) Ltd.'s long-term foreign-currency issuer default ratings at AA- and short-term issuer default rating at F1+.

The outlook remains stable.

The ratings reflect the bank's sound financial profile over the past 12 months, while Hong Kong's economy steadily recovered from a short and severe downturn in late 2008 and early 2009, Fitch said.

The agency said it does not anticipate any material change in profile over the near-term, the agency said.

The ratings are aligned with those of its sole parent, Singapore's DBS Bank, as Fitch said it believes that there is a high probability of parental support if needed given the subsidiary's position as a core, wholly owned and highly integrated in the group.

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