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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.

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