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Ratings downgrade for Standard Chartered

Profitability under pressure as bank ‘de-risks’ balance sheet
Thursday 04 May 2017 Author: Tom Sieber
Big News

Emerging markets focused bank Standard Chartered (STAN) is on the back foot thanks to a downgrade to its credit rating from credit agency Moody’s. Its debt is downgraded one notch to A1 from Aa3. This reflects expectations of lower profit as the bank looks to repair its balance sheet against a tough backdrop for revenue. At 717.3p the shares are down 6% in the past month. (TS)

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04 May 2017

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