Mauritius Commercial Bank Limited Moody s takes rating actions on three banks in Mauritius following the downgrade of Mauritius government ratings
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March 9, 2021, 8:42 AM·23 min read
Rating Action: Moody s takes rating actions on three banks in Mauritius following the downgrade of Mauritius government ratingsGlobal Credit Research - 09 Mar 2021Limassol, March 09, 2021 Moody s Investors Service ( Moody s ) has today downgraded by one notch the long-term ratings and assessments of Mauritius Commercial Bank Limited ( MCB ) and Absa Bank (Mauritius) Limited ( Absa Mauritius ). As part of the same rating action, Moody s has affirmed the ratings of SBM Bank (Mauritius) Ltd. ( SBM ). The outlooks on MCB s and SBM s deposit ratings are negative and the outlook on Absa Mauritius deposit rating is stable.A full list of affected ratings can be found at the end of this press release.The main driver for today s rating actions is the increasingly difficult operating env
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