Fitch Ratings on Oct. 11 affirmed Standard Chartered Plc's A+/F1 long- and short-term issuer default ratings and revised the outlook on the long-term rating to negative from stable.

The rating agency also affirmed the British banking group's A+ long-term senior unsecured debt rating, F1 short-term senior debt rating, "a" viability rating, 5 support rating and No Floor support rating floor.

At the same time, Fitch affirmed unit Standard Chartered Bank's A+/F1 long- and short-term issuer default and senior unsecured debt ratings, "a" viability rating, 5 support rating and No Floor support rating floor, with a stable outlook on the long-term issuer default rating.

Fitch said the negative outlook reflects its expectation that the group's currently adequate buffer of qualifying junior debt, which protects senior obligations from default in case of failure, will decrease in time and may not be replaced as it falls due.