Moody’s assigns A3 first-time deposit rating to Public Bank (HK)
Moody’s Investors Services has assigned first-time ratings to Public Bank (Hong Kong) Ltd (”PBHK”). They are A3 long-term, Prime-1 short-term foreign currency and local currency deposit ratings, and “C-” bank financial strength rating (”BFSR”). The outlook for all the ratings is stable.
“PBHK’s BFSR of ‘C-’ incorporates the bank’s solid capital position, good credit quality, and the management’s experience in dealing with a severe operating environment,” says Leo Wah, a Moody’s Vice President/Senior Analyst.
–www.theasianbanker.com (July 14 2008)–