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Moody's upgrades RHB Bank's baseline credit assessment

Moody's upgraded RHB Bank Bhd.'s baseline credit assessment and adjusted baseline credit assessment to "baa2" from "baa3."

The rating agency said June 6 that it upgraded RHB Bank's baseline credit assessment based on its ability to maintain good solvency and liquidity metrics. The bank's gross nonperforming loans ratio stabilized at 2.3% at the end of March, Moody's said, adding that it expects stable asset risk performance in 2018-2019. On the other hand, the agency said it took into account risk stemming from the bank's higher exposure to lower-income households in Malaysia in its baseline credit assessment.

At the same time, Moody's affirmed the bank's deposit and senior unsecured debt ratings at A3/P-2. It also affirmed the bank's counterparty risk assessments at A3(cr)/P-2(cr).

The outlook is stable.