I was interested to read that ACLEDA Bank may face a downgrade from Moody's, the US-based credit rating agency. (May 22).
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.
major agencies should, at the very least, be willing to fully engage
with the press immediately after they issue a statement.
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