Fitch affirms DBS Bank (Hong Kong)

Fitch Ratings said it affirmed DBS Bank (Hong Kong) Ltd.'s long-term foreign-currency issuer default rating at AA- and short-term foreign-currency issuer default rating at F1+.

The outlook remains stable.

The ratings reflect the extremely high possibility of support from its parent, DBS Bank, given the Hong Kong bank's position as a core, wholly owned and highly integrated subsidiary of the group, Fitch said.

Any changes in DBS Bank (Hong Kong)'s ratings are likely to be driven by changes in DBS Bank's ratings, the agency said.

Fitch added that the Hong Kong bank's ability to provide offshore financing solutions may continue to solidify its strategic importance on the back of strong loan demands from mainland China.

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