Moody's ups Hong Kong banks

Moody's Investors Service said it published the rating results for banks in Hong Kong as part of the application of its refined joint default analysis and updated bank financial strength rating methodologies.

The ratings changes include:

Bank of East Asia, Ltd.'s bank financial strength rating is unchanged at C, the global local-currency and foreign-currency deposit ratings are both changed to A2/prime-1 from A3/prime-1. The foreign-currency debt ratings for both subordinated and junior subordinated obligations are changed to A3 from Baa1. The outlook is stable.

China Construction Bank (Asia) Corp. Ltd. (formerly Bank of America Asia Ltd.)'s global local-currency deposit ratings are unchanged at Aa3/prime-1. The foreign-currency deposit ratings are unchanged at A1/prime-1. The local-currency deposit note/CD program ratings are unchanged at Aa3/prime-1. All ratings continue to be on review for possible downgrade.

Chong Hing Bank Ltd.'s bank financial strength rating is unchanged at C-, global local-currency and foreign-currency deposit ratings are unchanged at Baa2/prime-2 and the foreign-currency debt rating for subordinated obligations is unchanged at Baa3. The outlook is stable.

Citic Ka Wah Bank Ltd.'s bank financial strength rating is changed to C- from D+ and the foreign-currency deposit ratings are changed to Baa1/prime-2 from Baa2/prime-3. The foreign-currency and local-currency deposit note/CD program ratings are changed to Baa1/prime-2 from Baa2/prime-3. The foreign-currency debt rating for senior unsecured obligations is changed to Baa1 from Baa2 and for subordinated obligations is changed to Baa2 from Baa3. The outlook is stable.

Dah Sing Bank, Ltd.'s bank financial strength rating is unchanged at C. The global local-currency and foreign-currency deposit ratings are both unchanged at A3/prime-1. The foreign-currency deposit ratings for long-term deposit note/CD program are unchanged at A3. The foreign-currency debt ratings for senior unsecured obligations are unchanged at A3. The foreign-currency debt ratings for both subordinated and junior subordinated obligations are unchanged at Baa1. The outlook is stable.

Dah Sing SAR Financing Ltd.'s foreign-currency debt ratings for both backed subordinated and backed junior subordinated obligations are unchanged at Baa1. The outlook is stable.

Dah Sing MTN Financing Ltd.'s foreign-currency debt ratings for backed senior unsecured obligations are unchanged at A3. The foreign-currency debt ratings for both backed subordinated and backed junior subordinated obligations are unchanged at Baa1. The outlook is stable.

Hang Seng Bank Ltd.'s bank financial strength rating is unchanged at B+. The global local-currency deposit ratings are changed to Aa1/prime-1 from Aa2/prime-1. The foreign-currency deposit ratings are unchanged at Aa3/prime-1. The local-currency deposit note/CD program ratings are changed to Aa1 from Aa2. Both the foreign-currency and local-currency debt ratings for subordinated obligations are changed to Aa2 from Aa3. The outlook is stable except for foreign-currency deposit rating, which carries a positive outlook.

Hongkong and Shanghai Banking Corp. Ltd.'s bank financial strength rating is unchanged at B+, the global local-currency deposit ratings are changed to Aa1/prime-1 from Aa2/prime-1. The foreign-currency deposit ratings are unchanged at Aa3/prime-1. The foreign-currency issuer rating is changed to Aa1 from Aa2. The local-currency deposit note/CD program ratings are changed to Aa1 from Aa2. The foreign-currency debt ratings for senior unsecured obligations are changed to Aa1 from Aa2. The foreign-currency debt ratings for both subordinated and junior subordinated obligations are changed to Aa2 from Aa3. The outlook is stable except for foreign-currency deposit rating, which carries a positive outlook.

HSBC Markets (Bahamas) Ltd.'s foreign-currency debt ratings for backed senior unsecured obligations are changed to Aa1 from Aa2. The foreign-currency debt ratings for backed subordinated debt rating is changed to Aa2 from Aa3. The outlook is stable.

Icbca Ltd.'s backed senior unsecured dollar rating is A2 with positive outlook.

Standard Chartered Bank (Hong Kong) Ltd.'s bank financial strength rating is changed to B- from C+. The global local-currency deposit ratings assigned are Aa3/prime-1. The foreign-currency deposit ratings are changed to Aa3/prime-1 from A2/prime-1. Both the foreign-currency issuer rating and foreign-currency debt rating for senior unsecured obligations are changed to Aa3 from A2. The foreign-currency debt ratings for both subordinated and junior subordinated obligations are changed to A1 from A3. The local-currency debt ratings for subordinated obligations are changed to A1 from A3. The outlook is stable.

Wing Hang Bank, Ltd.'s bank financial strength rating is changed to C+ from C. The global local-currency and foreign-currency deposit ratings are both changed to A2/prime-1 from A3/prime-1. The foreign-currency debt ratings for junior subordinated obligations is changed to A3 from Baa1. The outlook is stable.

Wing Hang Financial Holding (BVI) Ltd.'s foreign-currency debt ratings for backed subordinated obligations is changed to A3 from Baa1. The outlook is stable.

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