Standard Chartered group continues to make steady progress to restore the group's balance sheet strength and asset quality, work towards higher returns, while maintaining robust funding and liquidity profiles. We expect to see slower ALAC accumulation, partly given the group's currently adequate buffer, coupled with our conservative view on the group's risk exposure in some emerging countries such as India and China. We are affirming the ratings on the group's non-operating holding company Standard Chartered PLC, the operating subsidiaries, and their various issuances. The stable outlook mainly reflects our expectation that the group's profitability will gradually improve and it will sustain its capitalization, credit losses, and asset quality over the next 12-24 months. On Nov. 28, S&P Global Ratings affirmed
