S&P Corrects Rating On Standard Chartered Bank (Hong Kong) MTN Program For Dated Subordinated Issuance To 'A'

LONDON (Standard&Poor's) Dec. 10, 2009--Standard&Poor's Ratings Services today corrected its ratings relating to Standard Chartered Bank (Hong Kong) Ltd.'s (SCBHK; A+/Negative/A-1) participation in the group's medium-term note program. On Aug. 4, 2009, following a change to our rating approach for dated subordinated debt instruments issued by U.K. banks, we lowered our rating on instruments issued by SCBHK's parent, Standard Chartered Bank (A+/Negative/A-1). Due to an administrative error, the program rating for issuance by SCBHK was also lowered. Today we have rectified this error by raising the rating for issuance of dated subordinated debt to 'A' from 'A-'. The ratings on individual dated subordinated debt instruments already issued by SCBHK were unaffected by this error and are

...LONDON (Standard & Poor's) Dec. 10, 2009--Standard & Poor's Ratings Services today corrected its ratings relating to Standard Chartered Bank (Hong Kong) Ltd.'s (SCBHK; A+/Negative/A-1) participation in the group's medium-term note program. On Aug. 4, 2009, following a change to our rating approach for dated subordinated debt instruments issued by U.K. banks, we lowered our rating on instruments issued by SCBHK's parent, Standard Chartered Bank (A+/Negative/A-1). Due to an administrative error, the program rating for issuance by SCBHK was also lowered. Today we have rectified this error by raising the rating for issuance of dated subordinated debt to 'A' from 'A-'. The ratings on individual dated subordinated debt instruments already issued by SCBHK were unaffected by this error and are still rated 'A'. RATINGS LIST To From US$27.5 bil med-term note program 07/31/1998: sub A A-...

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