Moody’s views Nanyang bank negatively

Moody’s Investors Service said it revised its outlook for Nanyang Commercial Bank to negative from stable and affirmed the bank's subordinated debt ratings at Baa2(hyb) and preferred stock non-cumulative rating at Ba2(hyb).

“The change of outlook to negative from stable follows the rating action on Nanyang Commercial Bank's ultimate parent, China Cinda Asset Management Co., Ltd. (Cinda AMC, A3 negative) on Oct. 28, 2022, where Moody's revised Cinda AMC's outlook to negative from stable,” the agency said in a press release.

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