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Moody's cuts Singapore bank outlooks as 'headwinds' pick up

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United Overseas Bank, DBS and OCBC ATMs in Singapore   © Reuters

SINGAPORE -- Moody's Investors Service on Thursday lowered its rating outlooks for Singapore's three big banking groups to "negative" from "stable." The U.S. ratings agency said asset quality and profitability are likely to be pressured by a "more challenging operating environment" this year and "possibly beyond."

     The outlooks represent expected rating trajectories over the next 12 to 18 months. The "negative" label applies to four entities in three groups: DBS Bank and parent DBS Group Holdings, Oversea-Chinese Banking Corp. and United Overseas Bank.

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