Mixed credit ratings views on OCBC's takeover bid for Wing Hang
Published on Apr 3, 2014 2:54 PM
OCBC's planned takeover of Hong Kong's Wing Hang bank has prompted mixed reactions from credit ratings agencies.
Standard & Poor's was the first to issue its take on the news, saying on Tuesday that it was affirming its AA- long-term and A-1+ short-term credit ratings on OCBC.
It also affirmed its 'stable' outlook on OCBC's long-term credit.
OCBC had on Monday said that it was launching a $6.23 billion takeover bid for Wing Hang as it sought to deepen its penetration into the Greater China market.
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