"The rating actions follow the bank's 3Q15 results announcement and its new strategic plan which is accompanied by a USD 5.1 bn rights issue. The bank's restructuring is comprehensive as it targets about USD 100 bn out of USD 315 bn of risk weighted assets (RWAs) at end-3Q 15," Fitch said in a statement.
The rating agency further said increasing correlations between its key emerging markets will continue to diminish some of the geographical diversification benefits of Standard Charter's strong franchise.
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