S&P elevates Acleda

S&P said it raised its long-term issuer credit rating on Acleda Bank plc to B+ from B. The outlook is stable.

At the same time, S&P affirmed its B short-term issuer credit rating on the bank.

S&P also revised the outlook on Advanced Bank of Asia (ABA) to positive from negative and affirmed the B long-term and short-term issuer credit ratings on the bank.

“Our rating actions on Acleda and ABA mainly reflect our view of moderating banking sector risks in Cambodia. The country's credit growth relative to GDP has been steadily slowing down, which has led us to revise our Banking Industry Country Risk Assessment (BICRA) economic risk trend for Cambodia to stable from negative,” S&P said in a news release.

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