Moody’s Investors Service has downgraded the local currency deposit ratings of the country’s top three banks from A1 to A3 in line with the agency’s new bank rating methodology.
The credit ratings provider said in a statement on Tuesday that this was in particular due to its revised view that the capacity for government support was best reflected by the government’s bond rating, which is A3 in the case of Malaysia.
Therefore it has lowered the local currency bank deposit ratings of Malaysian banks that were previously positioned above Malaysia’s A3 government rating.
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The credit ratings provider said in a statement on Tuesday that this was in particular due to its revised view that the capacity for government support was best reflected by the government’s bond rating, which is A3 in the case of Malaysia.
Therefore it has lowered the local currency bank deposit ratings of Malaysian banks that were previously positioned above Malaysia’s A3 government rating.
Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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