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S&P Cuts Outlook on Malaysia Banks on Household Debt Concern

Standard & Poor’s cut its credit outlook for four Malaysian lenders on concern that rising home prices and household debt are contributing to economic imbalances in the country.

The credit ratings company revised its outlook to negative from stable for CIMB Group Holdings Bhd., AmBank (M) Bhd., RHB Bank Bhd. and sister company RHB Investment Bank Bhd. It also lowered its long-term Asean regional scale rating on CIMB to axBBB+ from axA-, S&P said in an e-mailed statement today.