Credit ratings agency Fitch has clearly mastered the art of stating the obvious as it has opined that alleged regulatory and legal violations by emerging markets focused bank Standard Chartered could be damaging to the bank's reputation.
The investigation by US regulators is a "negative rating factor for Standard Chartered Bank ('AA-'/Negative) and for its parent, Standard Chartered Plc ('AA-'/Negative)," Fitch said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
How to earn over 4% on your cash… using a stocks and shares ISASavers worried about a potential cut to the cash ISA limit could shield their money from the taxman using a money market fund in a stocks and shares ISA. We explain how
-
Do you still have to file a tax return if you don’t owe any tax?Even if you do not owe the taxman any money, failure to complete and submit your tax return could result in a penalty costing you up to £1,600.
