The standalone BFSR
could be negatively affected if there is any material decline in ING Turkey's profitability and liquidity, or erosion of its asset-quality metrics.
The agency confirmed its C- BFSR
on Pohjola Bank as well as the bank's prime-1 short-term debt and deposit ratings.
The parent bank's E+ BFSR
now translates into a BaselineCredit Assessment (BCA) of B1, which serves as a reference point with which to impute bank rating uplift as a result of possible parental support.
Our stress tests show that HBME's BFSR
of C should be able to withstand the deteriorating credit cycle," said Moody's Middle East lead analyst for HBME John Tofarides.
The steady BFSR
limited the lowering of the local currency deposit rating to one rung.
In addition, at press time Moody's announced it has also downgraded the BFSR
of Freddie Mac to B-plus from Aminus, while affirming Aaa senior and all other debt ratings.
result of negative pressures on ING Turkey's standalone BFSR
RATIONALE FOR THE STABLE OUTLOOK ON THE LONG-TERM RATING AND NEGATIVE OUTLOOK ON THE BFSR
The stable outlook on Burgan-AS's local and foreign-currency deposit ratings is aligned with the stable outlook on Burgan-SAK's standalone credit assessment and reflects Moody's high parental support assumptions, in case of need.
The decision to initiate a review of UGB's D+ BFSR
, representing the bank's standalone financial strength, is related to last week's downgrade to Baa2 from Baa1 of the issuer rating of Kuwait Projects Holding Company (Kipco) - UGB's majority shareholder.
Moody's last rating action on PBB was on 4 March 2010, when the bank's local and foreign currency deposit ratings were placed on review for possible downgrade, in line with the review on the BFSR
of the bank's parent.
Moody's said that although current non-performing loans are well provisioned, credit risk remains a major concern and is the prime driver for the negative outlook on BMI's D BFSR
The rating agency has cut the BFSR
on SpareBanken 1 SMN to C- from C, with "stable" outlook.