Moody’s ups Mega Financial

Moody’s Investors Service said it upgraded Mega Financial Holding Co.’s issuer rating to A2 from A3.

“The upgrade of Mega Financial Holding’s long-term issuer rating to A2 from A3 takes into account the strong capitalization of its major subsidiaries, its stable performance over economic cycles, and its stable level of double leverage ratio which stood at 112% as of the end of June 2020,” Moody’s said in a press release.

The outlook is stable.

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