Moody’s: ICBC Standard view to negative

Moody's Investors Service said it affirmed the long-term deposit and issuer ratings of ICBC Standard Bank plc at Baa3 and the subordinated debt rating at Ba1 and changed the outlook to negative from stable.

The action follows the change of outlook on the bank's parent, Industrial & Commercial Bank of China Ltd. (ICBC, A1 negative, baa2), deposit rating to negative from stable.

The negative outlook reflects Moody's expectation that ICBC Standard’s long-term deposit and issuer ratings could move down in line with the deposit rating of its parent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.