Logo of Phnom Penh Post newspaper Phnom Penh Post - Credit raters need more engagement with press

Credit raters need more engagement with press

Credit raters need more engagement with press

Dear Editor,

I was interested to read that ACLEDA Bank may face a downgrade from Moody's, the US-based credit rating agency. (May 22).

 Given

that some of the problems causing the present economic crisis can be

laid at the door of the ratings agencies, it seems unreasonable that,

in what is supposed to be a new and more responsible financial era, the

Singapore office of Moody's was unavailable for comment about the

ACLEDA statement. To raise the possibility of any kind of downgrade of

a bank is bound to affect "market sentiment", especially among

borrowers and depositors, and could in extremis lead to a run.

  All

major agencies should, at the very least, be willing to fully engage

with the press immediately after they issue a statement.

Michael Hansen

Phnom Penh

Send letters to: [email protected] or P.O.鈥圔ox 146, Phnom

Penh, Cambodia. The Post reserves the right to edit letters to a

shorter length.

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • China-Cambodia tourism forum held

    The Cambodian tourism sector must be prepared to welcome a growing number of Chinese tourists, as they lead the globe in the number of outbound travellers and were responsible for the most visitors to the Kingdom last year, the country’s tourism minister said on