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

  • Rainsy will return at ‘favourable time’

    Opposition figure Sam Rainsy on Saturday suggested he would not return to Cambodia as he had previously promised, saying that like liberators King Father Norodom Sihanouk and Charles de Gaulle, he would only do so at a “favourable time”. “I will go back to Cambodia

  • Temi tourism project approved by the CDC

    The $500.4 million Tourism, Ecological, Marine and International (Temi) tourism project has been approved by the Council for the Development of Cambodia (CDC), according to a notice on its Facebook page on Monday. The project is part of Chinese-owned Union City Development Group Co Ltd’s (

  • US Embassy urged to stop ‘disrespecting sovereignty’

    The Ministry of Foreign Affairs and International Cooperation called on the US Embassy in Phnom Penh on Saturday to respect the Vienna Convention on Diplomatic Relations after it called former opposition leader Kem Sokha “an innocent man” – a move deemed to be “disrespecting Cambodia’s

  • NagaWorld casino sees net profit of more than $390M last year

    Phnom Penh’s NagaWorld casino posted a 53 per cent net profit increase last year at $390.6 million, a sum which is almost equal to the combined net profit of all Cambodian commercial banks in 2017. NagaWorld’s parent company, NagaCorp Ltd, is listed on the Hong Kong