Fitch affirms Oversea-Chinese Banking

Fitch Ratings said it affirmed Oversea-Chinese Banking Corp.'s long-term foreign-currency issuer default rating at AA- with stable outlook, short-term foreign-currency issuer default rating at F1+, individual rating at B, support rating at 2, support rating floor at BBB+ and ratings of subordinated tier-2 and hybrid tier-1 programs at A+.

The ratings reflect the bank's strong balance sheet and good performance over a long period, Fitch said.

Although the operating environment in the bank's main markets has become less benign, its credit profile - should stay sufficiently strong to maintain its ratings at the current level, the agency added.

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