Moody's may up Southern Bank

Moody's Investors Service said it confirmed Southern Bank Bhd.'s (SBB) D- bank financial strength rating with a positive outlook, while placing the bank's Baa2/P-3 long-term/short-term ratings, Baa3 subordinated debt rating and Ba2 preference share rating on review for possible upgrade.

The rating actions follow the announcement of an amicable takeover of SBB by Bumiputra-Commerce Holdings Bhd. following months of negotiations, the agency said.

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