Moody’s alters BoCom HK view to stable

Moody’s said it revised its outlook for Bank of Communications (Hong Kong) Ltd. to stable from positive. The agency also upgraded the bank’s preferred stock rating to Ba1 (hyb) from Ba2 (hyb).

“Moody's expects the bank to maintain broadly good asset quality in 2022 as the loans transferred from the parent's Hong Kong branch from 2018 through 2021 have been largely sound. The bank reported a low impaired loan ratio of 0.1% at end-2021. Nevertheless, offshore loans to mainland developers pose potential risks,” the agency said in a press release.

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