Fitch affirms three Hong Kong banks

Fitch Ratings said it affirmed the long-term issuer default ratings of three Hong Kong banks and revised their outlook to stable from negative.

Chong Hing Bank's long-term issuer default rating is affirmed at BBB+. Its outlook is revised to stable from negative.

Dah Sing Bank's long-term issuer default rating is affirmed at A-. Its outlook is revised to stable from negative.

Wing Hang Bank's long-term issuer default rating is affirmed at A-. Its outlook is revised to stable from negative.

Although difficult operating conditions in Hong Kong since mid-2008 have depressed earnings and led to higher impaired loans, the three Hong Kong banks have improved their capital strength, liquidity and balance sheet flexibility, Fitch said.

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