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Fitch rates UOBC A+
Fitch Ratings said it assigned a long-term issuer default rating of A+ and short-term issuer default rating of F1 to United Overseas Bank (China) Ltd. (UOBC).
The outlook is stable.
UOBC is a wholly owned subsidiary of United Overseas Bank and classified as a strategically important subsidiary of its parent bank due to strong integration with the parent and its key role in the group’s expansion strategy in Greater China, Fitch said.
As such, there is an extremely high probability of support from the parent, if needed, the agency said.
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