Moody's upgrades Singapore banks to 'stable'

Singapore

MOODY'S Investors Service has upgraded its long-term rating of Singapore's three large banking groups to "stable" as solvency pressures become manageable, even as it downgraded baseline credit assessments (BCA) and subordinated debt and capital instrument ratings.

"The outlook on the long-term ratings of DBS, DBS Holdings, OCBC and UOB was revised to 'stable' from 'negative', reflecting Moody's view that further solvency pressure will be manageable for these financial institutions," the ratings agency said…