Search

Search form

Logo of Phnom Penh Post newspaper Phnom Penh Post - Two Cambodian banks on review for downgrade

Two Cambodian banks on review for downgrade

Two Cambodian banks on review for downgrade

Moody's Investor Service yesterday placed local currency long-term deposit and issuer ratings of two of Cambodia’s largest banks, ACLEDA Bank and Cambodian Public Bank (Campu Bank), on review for downgrade, according to a statement from the rating service.

Several other ratings at the two banks, such as foreign-currency deposit ratings, were unaffected.

Moody’s changed its outlook for Campu Bank to negative last September, the Post reported, citing exposure to a slowdown in the West.

In the same month, Moody’s changed its outlook for ACLEDA from stable to negative.

Bank of the Philippine Islands and Vietnam’s Asia Commercial Bank will also be reviewed for downgrades, according to yesterday’s statement.

Officials at both banks, and at Moody’s, could not be reached for comment late yesterday.

To contact the reporter on this story: Don Weinland at [email protected]

RECOMMENDED STORIES

  • Breaking: PM says prominent human rights NGO ‘must close’

    Prime Minister Hun Sen has instructed the Interior Ministry to investigate the Cambodian Center for Human Rights (CCHR) and potentially close it “because they follow foreigners”, appearing to link the rights group to the opposition Cambodia National Rescue Party's purported “revolution”. The CNRP - the

  • Rainsy and Sokha ‘would already be dead’: PM

    Prime Minister Hun Sen on Sunday appeared to suggest he would have assassinated opposition leaders Sam Rainsy and Kem Sokha had he known they were promising to “organise a new government” in the aftermath of the disputed 2013 national elections. In a clip from his speech

  • Massive ceremony at Angkor Wat will show ‘Cambodia not in anarchy’: PM

    Government officials, thousands of monks and Prime Minister Hun Sen himself will hold a massive prayer ceremony at Angkor Wat in early December to highlight the Kingdom’s continuing “peace, independence and political stability”, a spectacle observers said was designed to disguise the deterioration of

  • PM tells workers CNRP is to blame for any sanctions

    In a speech to workers yesterday, Prime Minister Hun Sen pinned the blame for any damage inflicted on Cambodia’s garment industry by potential economic sanctions squarely on the opposition party. “You must remember clearly that if the purchase orders are reduced, it is all