Moody's Announced Multiple Rating Actions On Hudreds Of Banks (2)

Istanbul, March 18 (DHA) - Moody's Investors Service has announced multiple rating actions following yesterday's publication of its new bank rating methodology, which now is the primary methodology for Moody's bank ratings globally.

"The rating actions affect 1,021 out of 1,934 rated banking entities, which include operating banks, holding companies, subsidiaries, special purpose issuance conduits, branches and other entities for which Moody's has assigned ratings to at least one debt class" the company said in a statement released on Wednesday.

Within this total group of entities, 856 were assigned baseline credit assessments (BCAs), of which 147 are affected, while the total numbers refer to the banks that are covered under this press release, as certain bank ratings in a small number of countries (Japan, Bolivia, Brazil, Argentina, and Russia) would be discussed in separate local press releases.

Moody's has placed the ratings and assessments on, 147 BCAs, with 84 for upgrade and 63 for downgrade and 421 long-term deposit ratings with 314 for upgrade, 96 for downgrade and 11 direction uncertain, while 451 senior unsecured debt and issuer ratings with 214 for upgrade, 212 for downgrade and 25 direction uncertain, were put in order.

At the same time, Moody's has affirmed 124 long-term deposit ratings and 147 senior unsecured debt and issuer ratings.

"Our fundamental approach to bank ratings has not changed dramatically, but we have introduced a number of new tools to enhance our analysis, which has resulted in these rating reviews" said Greg Bauer, Moody's Co-head of Global Banking. "These reviews are prompted by our new methodology, which we are confident will enable us to appropriately reflect the rapidly evolving global banking environment as it continues to develop."