20.08.2014 13:34:00
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Wing Hang Bank, Limited -- Moody's upgrades Wing Hang Bank's deposit ratings to Aa3 upon its acquisition by OCBC; outlook stable
Hong Kong, August 20, 2014 -- Moody's Investors Service, ("Moody's") has today upgraded Wing Hang Bank's local and foreign currency long-term deposit ratings to Aa3 from A2. At the same time, Moody's has affirmed the bank's short-term rating at P-1 and its bank financial strength rating (BFSR)/baseline credit assessment (BCA) at C+/a2. Moody's has also upgraded the bank's Basel II-compliant dated subordinated MTN program rating to (P)A1 from (P)A3, undated junior subordinated MTN program rating to (P)A2 from (P)Baa1, and undated junior subordinated debt rating to A2(hyb) from Baa1(hyb).