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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]

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