Fitch puts Standard Chartered under observation

Fitch Ratings said it placed the short-term issuer default ratings of Standard Chartered plc and its subsidiary, Standard Chartered Bank, under criteria observation (UCO) following the recent publication of cross-sector short-term ratings criteria.

The agency said it intends to conclude full implementation of the criteria and resolution of all UCO designations within six months of the designation.

The new short-term ratings criteria introduced changes to the correspondence table between long- and short-term ratings, Fitch said.

Fitch said it will review the funding and liquidity scores of the banks when resolving the UCOs.

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