Moody’s: Standard Chartered Bank (Singapore) to stable

Moody's Investors Service said it affirmed Standard Chartered Bank (Singapore) Ltd.’s (SCBSL) long-term deposit and issuer ratings at Aa3 and changed the outlook to stable from negative.

The agency also affirmed the bank's a2 baseline credit assessment (BCA) and adjusted BCA, Aa2(cr)/P-1(cr) counterparty risk assessments and P-1 short-term ratings.

Moody’s said the actions follow its May 2 decision to downgrade the BCA and long-term credit ratings for parent bank, Standard Chartered Bank (SCB; A1 stable, baa1).

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