CREDIT rating agency Moody's has downgraded the outlook of Singapore's three main banks to "negative" from "stable" amid rising property prices and mounting household debt in the city-state.
"The two main drivers underpinning our opinion are the recent period of rapid loan growth and rising real estate prices in Singapore and in regional markets where Singapore banks are active," it said in a statement on Monday.
"These have increased the probability of deterioration in the banks' credit profiles under potential adverse conditions in the future." Full story
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Singapore banks placed on "negative" outlook: Moody's - Yahoo! Finance Singapore
