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Moody's: HK Banks May Raise Provisions, Selectively Tighten Credits to Developers
Recommend 45 Positive 75 Negative 51 |
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Hong Kong real estate developers are weathering with headwinds in the commercial real estate (CRE) market and a deceleration in residential property sales, which pose a major risk to the credit strength of banks, Moody's said. Such developers' debt servicing capacity is tapering off as feeble property sales and rental income constrain their revenues, while interest rates remain elevated. Moody's forecast banks to increase loan-loss allowances and adopt more prudent credit policies in light of the ongoing stress in the real estate sector. Banks' selective credit policies will primarily affect smaller and weaker real estate developers. However, Moody's expected rated real estate developers to maintain strong access to funding. AAStocks Financial News |
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