Moody’s: Bank of Singapore view to negative

Moody's Investors Service said it revised the outlook on Bank of Singapore Ltd. to negative from stable.

At the same time, the agency affirmed the bank's local and foreign currency deposit ratings, and its local and foreign currency issuer rating of Aa1/P-1.

Moody’s said the outlook change was driven by the negative outlook assigned on Bank of Singapore’s parent bank, Oversea-Chinese Banking Corp. Ltd. (OCBC, Aa1/Aa1 negative, aa3). The negative outlook on OCBC was driven by the agency’s expectations of a more challenging operating environment for banks in Singapore.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.