Moody's: DBS Bank (Hong Kong) view stable

Moody's Investors Service said it affirmed the Aa3/P-1 deposit rating of DBS Bank (Hong Kong) and revised the outlook to stable from negative.

The agency also affirmed the bank's C+/a2 bank financial strength rating/baseline credit assessment, but the outlook remains negative.

Moody's said these actions follow DBS Group Holdings' decision to drop its offer to buy PT Bank Danamon Indonesia Tbk. on July 31 and the related revision of DBS Bank's rating outlook to stable.

In turn, DBS Bank's ratings and outlook is relevant to DBS Bank (Hong Kong)'s own ratings, owing to the agency's incorporation of parental support assumptions in the Hong Kong subsidiary's deposit rating.

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