S&P ups Standard Chartered

S&P said it raised the issuer and senior issue ratings to A+ from A and affirmed all its other ratings on Standard Chartered Bank (SCB), Standard Chartered Bank AG (SCB AG), and Standard Chartered Bank (Singapore) Ltd. (SCB Singapore). The agency also removed the issuers from under criteria observation.

“The rating actions follow a revision to our methodologies for rating banks and nonbank financial institutions and for determining a Banking Industry Country Risk Assessment (Bicra) (see ‘Financial Institutions Ratings Methodology,’ and ‘Banking Industry Country Risk Assessment Methodology And Assumptions,’ both published Dec. 9, 2021),” the agency said in a press release.

The outlooks are stable.

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