Moody's: RHB Bank unaffected

Moody's Investors Service said RHB Bank Bhd.'s A3/prime-1/D ratings will not be affected by the Board of Utama Banking Group Bhd.'s decision to accept a proposed offer by Employees Provident Fund Board to acquire Utama Banking's entire interest (32.8%) in Rashid Hussain Bhd.

A change in shareholder structure at RHB Bank's parent alone will not affect the bank's ratings, Moody's said. However, the agency said it will continue to monitor any development that affects the bank's risk profile and financial fundamentals, which may trigger a review of its current ratings.

Moody's said it will implement its joint default analysis methodology to all bank ratings in Asia by the end of March. As such, RHB Bank's foreign-currency debt ratings and local-currency deposit and debt ratings may be lifted when that methodology is adopted.

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