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Moody’s rates Nanyang securities Ba2
Moody's Investors Service said it assigned a Ba2(hyb) rating to Nanyang Commercial Bank, Ltd.'s proposed dollar-denominated, perpetual, noncumulative and subordinated additional tier 1 capital securities. The outlook is stable.
The agency said the bank's A3 long-term deposit ratings incorporate two notches of government support uplift and reflect Moody's expectation of a very high likelihood that indirect support to the bank from the Chinese government (Aa3/negative) would flow through its parent.
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