Moody’s turns Niaga outlook to positive

Moody’s Investors Service said it revised the outlook for Bank CIMB Niaga Tbk. and CIMB Thai Bank PCL to positive from stable and affirmed their Baa2 long-term ratings.

The positive outlook mirrors CIMB group’s improved “solvency metrics, driven by de-risking and cost optimization initiatives, as well as the partial divestments of non-core businesses over the past few years,” Moody’s said in a press release.

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