Fitch Ratings affirmed DBS Bank (Hong Kong) Ltd.'s long-term issuer default rating at AA- and assigned the bank a viability rating of "a-". The outlook is stable.
The rating agency affirmed the bank's short-term issuer default rating at F1+. Fitch said the affirmation reflects the Hong Kong-based bank's ties to its Singapore-based parent DBS Bank Ltd. and the parent's strong ability to support the unit. DBS Bank (Hong Kong) plays a crucial role in providing many of its parent's core products and services within the Chinese market.
The viability rating reflects the bank's ability to exist without the assistance of its parent as well as its stable domestic mid-tier franchise, strong liquidity and overall satisfactory financial profile.