S&P downgrades StanChart ratings outlook on annual loss

Ratings agency Standard & Poor's (S&P) downgraded its outlook for Standard Chartered on Friday in a sign of mounting pressure on the bank after it posted its first annual loss for 26 years on Tuesday. S&P said it was putting the bank's long-term credit ratings on creditwatch with negative implications, meaning it may lower the lender's ratings one notch when it has completed its review. The change in Standard Chartered's outlook came after the bank reported a substantial decline in i