Moody’s downgrades three Hong Kong banks
(18 March 2016 – Hong Kong) Moody's Investors Service has this week revised to negative from stable the rating outlook on three Hong Kong banks.
The changes reflects the agency’s expectations of a more challenging operating environment for banks in Hong Kong it said in a statement.
The three banks affected are HSBC, Hang Seng Bank Limited, and Dah Sing Bank, Limited.
Moody's has also downgraded a raft of ratings for Bank of East Asia's (BEA) including: long-term and short-term deposits, long-term senior unsecured debt, senior unsecured commercial paper and long-term CR Assessments. Moody’s said the outlook on all ratings remains negative.
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