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Prospect News home > News index > List of issuers E > Headlines for Eastern and Southern African Trade and Development Bank (PTA Bank) > News item |
Moody’s views trade bank negatively
Moody's Investors Service said it revised its outlook for Trade and Development Bank (also known as Eastern and Southern African Trade and Development Bank) to negative from stable and affirmed its Baa3 long-term issuer and senior unsecured debt ratings and the (P)Baa3 senior unsecured medium-term note program rating.
“The change in outlook to negative reflects the deteriorating credit environment in which TDB operates and downside risks to asset quality and performance. Risks to TDB's profitability – a key credit support and important source of equity via recapitalized dividends – and its liquidity profile have grown with higher financing costs and mounting debt sustainability challenges amongst several of its borrowers,” Moody’s said in a statement.
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