Moody’s stabilizes UOB Thai’s outlook

Moody’s Investors Service said it revised its outlook for United Overseas Bank (Thai) PCL to stable from negative and affirmed its ratings. The agency does not rate the bank’s notes.

The outlook revision follows the bank acquiring Citigroup Inc.’s assets in Thailand, Moody’s said.

“The acquisition has strengthened UOBT's market position in Thailand with the addition of unsecured loans and other retail exposures from Citi,” the agency said in a press release.

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