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Fitch revises OCBC Wing Hang to stable
Fitch Ratings said it revised OCBC Wing Hang Bank Ltd.'s outlook to stable from negative and affirmed its long-term issuer default rating at AA-.
“The rating actions follow the affirmation of Singapore-based ultimate parent Oversea-Chinese Banking Corp. Ltd.'s (OCBC) long-term IDR at AA-. The outlook follows a similar revision at OCBC, whose outlook has been revised to stable from negative, reflecting the easing pressure on the bank's core financial metrics due to improved business and financial prospects, stemming from the economic recovery in Singapore and other key markets,” Fitch said in a press release.
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