S&P downgrades Acleda, keeps outlook stable
Hours after downgrading Cambodia’s long-term sovereign credit rating, ratings agency Standard & Poor’s said it had also decided to lower the credit rating for Acleda Bank to B from B+, though it maintained its outlook for the bank as stable. The decision follows a similar decision in September by Moody’s, another ratings agency, to change its outlook on Acleda Bank’s financial strength to ‘negative’ from ‘stable’. Moody’s also downgraded its rating of the bank’s local currency deposits to Ba2 from Ba1…
