MyState Limited (ASX:MYS) announced that Moody’s Investor Services has concluded the COVID-19 prompted evaluation of its subsidiary company MyState Bank Limited and has placed all ratings on “review for downgrade”.
Managing Director and CEO of MyState Limited, Melos Sulicich commented that due to the economic disruption from the coronavirus pandemic, Moody’s has changed their outlook for the Australian banking sector to negative.
At the same time, he assured that MyState Bank would remain compliant with its key regulatory capital and liquidity ratios & has wisely managed these ratios at appropriate levels as the coronavirus pandemic evolved.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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