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Fitch removes OCBC Wing Hang from watch
Fitch Ratings said it affirmed the OCBC Wing Hang Bank Ltd.'s long-term issuer default ratings at AA-and removed the ratings from rating watch negative. The outlook is negative.
The rating actions follow the affirmation of parent Oversea-Chinese Banking Corp. Ltd.'s AA- long-term IDR and removal of the RWN, Fitch said.
“The negative outlook on OCBC's IDR signals our medium-term view that the downside risks that led to the RWN have declined in severity but that the risks have not fully dissipated (see “Fitch Affirms OCBC at AA-; Outlook Negative; Off RWN,” published on Sept. 28, 2020),” Fitch said in a press release.
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