Fitch ups Seng Heng Bank to 2

Fitch Ratings said it upgraded Seng Heng Bank's support rating to 2 from 4, following the completion of Industrial & Commercial Bank of China's (rated A with stable view) purchase of 79.9% of Seng Heng Bank's share capital. Seng Heng Bank's individual rating is C.

Seng Heng Bank is the third-largest bank in Macau by assets and serves corporate, SME and retail customers, Fitch said.

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