Moody’s ups Bank of Singapore view to stable

Moody's Investors Service said it affirmed Bank of Singapore Ltd.’s local and foreign currency deposit ratings, and its local and foreign currency issuer rating of Aa1/P-1.

The outlook was revised to stable from negative.

Moody’s said the outlook change was driven by the outlook change to stable on parent bank, Oversea-Chinese Banking Corp. Ltd. (OCBC, Aa1/Aa1 stable, a1).

The bank’s a3 baseline credit assessment (BCA) remains unchanged. Its adjusted BCA was downgraded to a1 from aa3, following the BCA downgrade of Oversea-Chinese to a1.

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