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.
Moody’s to review Cambodia’s banks for downgrades
The Importance of E-Wallets for Online Gaming Sites
With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.
Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures
The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.
BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.(more…)
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