Moody's upgrades three Singapore banks

Moody's Investors Service said it affirmed the ratings and assessments of DBS Bank Ltd., DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. Ltd., United Overseas Bank Ltd. and their branches.

Moody's also said it upgraded the ratings assigned to the subordinated tier-2 point of non-viability securities of the banks to A2(hyb) from A3(hyb).

The agency also concluded the review for upgrade on these ratings that began in November 2017.

The banks maintain strong and stable financial metrics, Moody's said.

The A1 baseline credit assessments on the banks are some of the highest in the world, underpinned by strong solvency and liquidity, the agency said.

While 2019 will likely be a more challenging year for the Singapore and broader Asian regional economy due to slower economic and trade growth, these three Singaporean lenders are well positioned to withstand these headwinds, Moody's said.

© 2015 Prospect News.
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