Fitch assigns Dah Sing Bank notes BBB+

Fitch Ratings said it assigned Dah Sing Bank Ltd.'s subordinated notes due Feb. 9, 2022 with a call option in 2017 a final rating of BBB+.

In accordance with Fitch criteria, the agency rates these legacy notes one notch below Dah Sing Bank's viability rating of a- to reflect higher loss severity given their subordination to senior unsecured instruments. As the notes have no interest deferral features, Fitch has not applied additional notching for non-performance risk, i.e. going-concern loss-absorption.

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