Moody’s downgrades ratings of five banks

By MG News | October 11, 2022 at 03:36 PM GMT+05:00

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October 11, 2022 (MLN): Moody’s Investors Service downgraded long-term deposit ratings to Caa1 from B3 of Allied Bank, Habib Bank, MCB Bank, National Bank of Pakistan, and United Bank, according to a statement by the rating agency.

Moody’s lowered the baseline credit assessments of ABL, MCB, and UBL to Caa1 from B3, and affirmed NBP and HBL at Caa1.

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