Fitch goes negative on three China banks

Fitch Ratings said it changed the outlook to negative from stable for three foreign-owned Chinese banks and affirmed their long-term foreign-currency issuer default ratings.

The three subsidiaries of foreign banks are United Overseas Bank (China) Ltd. (UOBC), Standard Chartered Bank (China) Ltd. and Bank of Montreal (China) Co. Ltd.

The revision of the outlooks follows a similar action on the outlook of China on April 9, Fitch said.

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