Pakistan: Moody’s downgrades long-term deposit ratings of five banks
1 year, 10 months ago

Pakistan: Moody’s downgrades long-term deposit ratings of five banks

Live Mint  

Pakistan's economic crisis has continued to get worse with each passing day. Now, the international rating agency company, Moody's Investors Service has reportedly downgraded the long-term deposit ratings of five Pakistani banks to Caa3 from Caa1. According to Moody's Investors Service, the five banks to be downgraded on deposit rating include Allied Bank Limited, Habib Bank Ltd, MCB Bank Limited, National Bank of Pakistan, and United Bank Ltd. In addition to downgrading their long-term deposit ratings, the global rating agency has also downgraded the five banks' long-term foreign currency Counterparty Risk Ratings to Caa3 from Caa1. Furthermore, Moody's has lowered the banks' Baseline Credit Assessments to Caa3 from Caa1, and as a result, also downgraded their local currency long-term CRRs to Caa2 from B3 and their long-term Counterparty Risk Assessments to Caa2 from B3.

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History of this topic

Fitch downgrades Pakistan's rating; warns default a 'real possibility'
1 year, 11 months ago

Fitch downgrades Pakistan's rating; warns default a 'real possibility'

India Today  

The beleaguered Pakistani economy faces substantial credit risks with "critically low levels” of foreign exchange reserves, New York-based global ratings agency Fitch said on Tuesday, warning that a default is a "real possibility." The downgrade reflected a sharp deterioration in external liquidity and funding conditions, along with decline of foreign exchange reserves to “critically low levels," Fitch said. Fitch said …

Moody's rating agency raises outlook to 'stable' for 18 corporates and banks
3 years, 3 months ago

Moody's rating agency raises outlook to 'stable' for 18 corporates and banks

Firstpost  

This follows the upgrade by the US-based rating agency in India’s sovereign rating outlook to ‘‘stable’’ from ‘’negative’’ on Tuesday New Delhi: Moody’s Investors Service on Wednesday raised the rating outlook for 18 Indian corporates and banks, including Reliance Industries, Infosys, SBI and Axis Bank, to ‘‘stable’’ from ‘’negative’’. This follows the upgrade by the US-based rating agency in India’s …

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’
3 years, 3 months ago

Moody’s upgrades outlook on India from ‘negative’ to ‘stable’

Hindustan Times  

India on Tuesday had its sovereign credit rating outlook revised to stable from negative by Moody’s Investors Service, on receding risks posed by the financial sector to the overall economy. “The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy and financial system are receding. In November 2017, …

Moody's Downgrades Deposit Ratings of BoB, BoI, Canara Bank, Union Bank
4 years, 4 months ago

Moody's Downgrades Deposit Ratings of BoB, BoI, Canara Bank, Union Bank

News 18  

Moody's Investors Service on Friday downgraded the long-term local and foreign currency deposit ratings of Bank of Baroda, Bank of India, Canara Bank and Union Bank of India to Ba1 from Baa3. It affirmed Punjab National Bank's long-term local and foreign currency deposit ratings at Ba1 and its BCA at B1 but changed its ratings outlook to negative from stable. …

Moody’s downgrades 11 banks
4 years, 7 months ago

Moody’s downgrades 11 banks

The Hindu  

Ratings agency Moody’s has taken rating action on 11 banks as well as 11 companies, a day after it downgraded India’s sovereign rating to Baa3 from Baa2. Among banks, Moody’s has downgraded the long-term local and foreign currency deposit ratings of HDFC Bank and State Bank of India to Baa3 from Baa2, and the long-term issuer rating of EXIM India …

Moody's downgrades India's rating to Baa3; outlook remains ‘negative’; says move not driven by impact of COVID-19 outbreak
4 years, 7 months ago

Moody's downgrades India's rating to Baa3; outlook remains ‘negative’; says move not driven by impact of COVID-19 outbreak

Firstpost  

The global rating agency Moody’s Investors Service on Monday downgraded India’s rating to BAA3 from Baa2, and its short-term local-currency rating to P-3 from P-2 The global rating agency Moody’s Investors Service on Monday downgraded India’s rating to BAA3 from Baa2, and its short-term local-currency rating to P-3 from P-2. “Moody’s has adowngraded India’s local-currency senior unsecured rating to Baa3 …

Moody’s downgrades Yes Bank’s ratings
4 years, 10 months ago

Moody’s downgrades Yes Bank’s ratings

The Hindu  

Moody’s Investors Service on Friday downgraded Yes Bank Ltd’s rating following the RBI imposing a 30-day moratorium that prevents the lender from making payments to its creditors. “The ratings remain under review, with the direction uncertain,” Moody’s said, downgrading Yes Bank Ltd’s long-term foreign currency issuer rating to Caa3 from B2. “Despite the event of default, the Caa3 rating takes …

Moody’s downgrades Yes Bank’s ratings, assigns negative outlook
5 years, 1 month ago

Moody’s downgrades Yes Bank’s ratings, assigns negative outlook

Live Mint  

Moody's Investors Service on Thursday downgraded Yes Bank Limited's long-term foreign currency issuer rating to B2 from Ba3. The ratings agency has also downgraded the bank's long-term foreign and local currency bank deposit ratings to B2 from Ba3, foreign currency senior unsecured MTN program rating to B2 from Ba3, and Baseline Credit Assessment and Adjusted BCA to b3 from b1. …

Moody’s outlook revision may prove costly for banks
5 years, 2 months ago

Moody’s outlook revision may prove costly for banks

Live Mint  

Moody’s Investors Service’s revision of the outlook for key Indian banks and financial institutions from stable to negative on Friday could make it dearer for them to borrow on international markets in the short term, three analysts said. Moody’s on Friday affirmed the ratings, but revised the outlook for six banks and financial institutions—State Bank of India, HDFC Bank, Hero …

Moody's Downgrades Yes Bank's Long-term Foreign Currency Issuer Rating
5 years, 4 months ago

Moody's Downgrades Yes Bank's Long-term Foreign Currency Issuer Rating

News 18  

New Delhi: Moody's Investors Service on Wednesday said it has downgraded Yes Bank's long-term foreign-currency issuer rating and has kept the outlook at negative. Moody's also downgraded the bank's long-term foreign and local currency bank deposit ratings to Ba3 from Ba1, foreign currency senior unsecured MTN program rating to Ba3 from Ba1, and Baseline Credit Assessment and adjusted BCA to …

Moody's downgrades Yes Bank's long-term foreign currency issuer rating
5 years, 4 months ago

Moody's downgrades Yes Bank's long-term foreign currency issuer rating

India TV News  

Moody's Investors Service on Wednesday said it has downgraded Yes Bank's long-term foreign-currency issuer rating and has kept the outlook at negative. Moody's also downgraded the bank's long-term foreign and local currency bank deposit ratings to Ba3 from Ba1, foreign currency senior unsecured MTN program rating to Ba3 from Ba1, and Baseline Credit Assessment and adjusted BCA to b1 from …

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