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S&P affirms ACLEDA Bank's ratings

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S&P affirms ACLEDA Bank's ratings

S&P Global Ratings affirmed the ratings of Cambodia's ACLEDA Bank Plc in view of its expectations that the bank will maintain its financial profile despite high loan growth.

The rating agency on Dec. 12 affirmed the bank's B long-term and short-term issuer credit ratings, with a stable outlook. The bank's "axBB-" long-term and "axB" short-term ASEAN regional scale ratings were also affirmed.

The affirmation reflects S&P's view that the bank will maintain its strong market position, sound earnings capability and significant funding in Cambodia in the next 12 months despite challenges stemming from its rapid credit expansion and mounting economic imbalance risks. The bank's sound profitability and still-low credit costs offset downside risks to its moderate capital position.

S&P does not expect the ratings of the bank to change over the next 12 months.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.