Moody's lowers Clientis

Moody's Investors Service said it downgraded Clientis AG's short-term deposit ratings to Prime-2 from Prime-1.

Moody's said this action brings Clientis' short-term ratings in line with the regular mapping of an A3 long term rating to a Prime-2 short term rating and is underpinned by Moody's assessment that Clientis' Prime-1 ratings are no longer commensurate with heightened macroeconomic risk factors in both the Swiss and the European context.

Clientis' A3 long-term bank deposit ratings are not affected by this action.

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