S&P Global Market Intelligence presents a summary of ratings actions on Asia-Pacific financial institutions and economies. Ratings actions are listed by announcement date in reverse chronological order.
* Fitch Ratings affirmed the A/F1 long- and short-term issuer default ratings on three Asian units of the U.K.-based Standard Chartered Bank, following taking a similar action on the parent company. The units are Standard Chartered Bank (China) Ltd., Standard Chartered Bank (Singapore) Ltd. and Standard Chartered Bank (Taiwan) Ltd. Support rating of all three banks was affirmed at 1, while Standard Chartered Bank (Taiwan)'s viability rating was affirmed at "bbb." The outlook is stable.
* S&P Global Ratings lowered its outlook on Lloyd's Insurance Co. (China) Ltd. to negative from stable after taking a similar action on the outlook of parent Lloyd's of London. The rating agency affirmed the financial strength ratings of the insurer at A+.
* Fitch affirmed the long- and short-term issuer default ratings on Standard Chartered Bank Korea Ltd. at A and F1, respectively, following taking a similar action on its U.K.-based parent. The bank's viability rating was affirmed at "bbb" and support rating at 1. The outlook is stable.
* S&P affirmed the ratings of Australia-based QBE Insurance Group Ltd. and its core operating units, with positive outlooks. The financial strength and issuer credit ratings of QBE Insurance were affirmed at A-, while the ratings of QBE Insurance (Singapore) Pte. Ltd., QBE General Insurance (Hong Kong) Ltd. and QBE Hongkong & Shanghai Insurance Ltd. were affirmed at A.
* Fitch affirmed South Korea's long-term foreign-currency issuer default rating at AA-, with a stable outlook.
* Fitch affirmed Taiwan's long-term foreign-currency issuer default rating at AA-, with a stable outlook.
* Moody's raised the outlook on Hong Kong-based China CITIC Bank International Ltd. to stable from negative. The rating agency affirmed the company's long- and short-term deposit ratings at Baa1 and Prime-2, respectively, while its baseline credit assessment and adjusted BCA were affirmed at "baa2."
* Fitch affirmed FTLife Insurance Co. Ltd.'s insurer financial strength rating at A- (Strong) and long-term issuer default rating at BBB+. The outlooks are stable.
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