Connect with us

Banking

Moody’s to review Cambodia’s banks for downgrades

Moody’s Investor Services will review ACLEDA Bank and Cambodian Public Bank (Campu Bank) for potential downgrades, according to a release from the rating agency on Wednesday. But the move comes primarily as a response to the global financial crisis and the rating agency’s attempt to realign sovereign ratings with that of banks, an official at Moody’s said.The reviews and potential downgrades could be the final rating action in response to Moody’s policy change, Singapore-based analyst Christian de Guzman said by email yesterday.Moody’s will review ACLEDA’s and Campu’s “bank financial strength rating”, both of which stand at a D, according to a statement issued late on Tuesday. ACLEDA’s “local currency long-term deposit and issuer rating”, now at a Ba2 rating, will also be up for review.Banks rated D display modest intrinsic financial strength, potentially requiring some outside support at times, according to Moody’s.

Avatar

Published

on

Moody’s Investor Services will review ACLEDA Bank and Cambodian Public Bank (Campu Bank) for potential downgrades, according to a release from the rating agency on Wednesday. But the move comes primarily as a response to the global financial crisis and the rating agency’s attempt to realign sovereign ratings with that of banks, an official at Moody’s said.

Loading...

The reviews and potential downgrades could be the final rating action in response to Moody’s policy change, Singapore-based analyst Christian de Guzman said by email yesterday.

Moody’s will review ACLEDA’s and Campu’s “bank financial strength rating”, both of which stand at a D, according to a statement issued late on Tuesday. ACLEDA’s “local currency long-term deposit and issuer rating”, now at a Ba2 rating, will also be up for review.Banks rated D display modest intrinsic financial strength, potentially requiring some outside support at times, according to Moody’s.

Excerpt from:
Moody’s to review Cambodia’s banks for downgrades

Comments

Asean

12 Things to Know about the ASEAN Catalytic Green Finance Facility (ACGF)

The ACGF is an ASEAN Infrastructure Fund initiative managed by ADB’s Southeast Asia Department Innovation Hub. It helps Southeast Asian governments prepare and finance infrastructure projects promoting environmental sustainability and contributing to climate change goals.

Asian Development Bank

Published

on

Southeast Asia faces an infrastructure investment shortfall of more than $100 billion a year, which may have worsened amid the COVID-19 pandemic.

Loading...
(more…)

Continue Reading

Banking

Thai cabinet approves 350 billion baht Aid for COVID-hit Businesses

Thailand unveiled new measures to help small and medium COVID-hit businesses in the tourism industry hit by a liquidity crunch.

Olivier Languepin

Published

on

The Thai cabinet has approved assistance worth 350 billion baht($11 Billion) to help businesses affected by COVID-19 with soft loans and asset warehousing.

Loading...
(more…)

Continue Reading

Banking

APAC Banks to Face Portfolio Valuation Losses As Yields Rise

The latest data suggest that Fitch-rated banks in Hong Kong, India, Indonesia, Malaysia and Taiwan have the largest AFS securities portfolios, and display particular sensitivity to changes in yields.

Avatar

Published

on

Fitch Ratings-Hong Kong/Singapore-21 March 2021: A rise in yields for long-dated sovereign bonds will result in near-term losses for Asia-Pacific (APAC) banks as they recognise valuation changes on their available-for-sale (AFS) bond portfolios, but the capital impact should be manageable for most rated banks, says Fitch Ratings.

Loading...
(more…)

Continue Reading

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 14,001 other subscribers

Latest

Trending