Moody's affirms United Overseas

Moody's Investors Service has affirmed United Overseas Bank's ratings. All the ratings carry stable outlooks.

Moody's said that United Overseas Bank is a very strong credit with its B/Aa3 standalone bank financial strength rating, among the highest assigned to any financial institution globally.

This rating is driven by the bank's relatively traditional banking business in its leading markets of Singapore and Malaysia, and strong balance sheet, including healthy asset quality, ample liquidity and relatively consistent earnings.

In particular, the bank has impressive capital strength by global standards, with a large capacity to absorb loss even under Moody's highly adverse stress scenario, the agency said.

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