Moody’s: Standard Chartered to stable

Moody's Investors Service said it affirmed the ratings of Standard Chartered Bank Korea Ltd. and changed the outlook to stable from negative.

The affected ratings are Standard Chartered’s A1/P-1 long-term and short-term global local and foreign currency deposits rating; provisional A1/provisional P-1 long-term and short-term foreign currency medium-term note program rating; P-1 foreign currency short-term commercial paper rating; and C- bank financial strength rating, mapping to a baseline credit assessment of baa2.

"While continued structural challenges have pressured SCBK's profitability, the revised outlook reflects our view that the bank's response has not weakened its credit profile. In fact, SCBK maintains strong capitalization and a liquid balance sheet even as it continues its restructuring," Moody's vice president senior analyst Sophia Lee said in a news release.

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