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US-China relations tense over Snowden / Moody's downgrades nine Hong Kong banks

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posted on Jun, 25 2013 @ 12:27 PM
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Yesterday the WH press secretary gave a briefing on the status of the US and Chinese relations involving Edward Snowden. Stating briefly that the US wasn't buying the idea that Hong Kong was unable to arrest or expel Snowden, dismissing the Chinese legal justification for allowing him to leave.

Source

Press secretary Jay Carney blasted China in unusually blunt terms as the administration hunted for Snowden, the leaker of National Security Agency documents who is now believed to be hiding out in Russia.

Carney dismissed Hong Kong’s legal justification for allowing Snowden to leave — “we do not buy the suggestion that China could not have taken action” — and said there would be consequences.



Indicating that their would be an issue or problem with relations regarding Snowden's release, and not speculating as to what the U.S. would do, coincidentally yesterday Mood's downgraded nine Hong Kong banks.

Source

Hong Kong, June 24, 2013 -- Moody's Investors Service has changed the outlooks for the bank financial strength ratings (BFSRs)/Baseline Credit Assessments (BCAs) of eight Hong Kong banks to negative from stable, and one bank's BFSR outlook to stable from positive.

In addition, Moody's has lowered Wing Lung Bank's BFSR by one notch, and affirmed all other ratings of the nine banks.

Moody's has affirmed the deposit ratings of all the nine banks involved in this rating action. However, it has changed the outlooks on the deposit ratings for five of the nine banks concerned to negative from stable, while those for the other four banks are unchanged at stable. Please click here for a list of the affected credit ratings. This list is an integral part of this press release and identifies each affected issuer.


edit on 25-6-2013 by Daedal because: Edit
edit on 25-6-2013 by Daedal because: Edit




posted on Jun, 25 2013 @ 12:56 PM
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Originally posted by Daedal
Indicating that their would be an issue or problem with relations regarding Snowden's release, and not speculating as to what the U.S. would do, coincidentally yesterday Mood's downgraded nine Hong Kong banks.



Coincidentally, yes.
Here is a news item from several weeks ago:

Rating Action: Moody's announces reviews for downgrade of five banks' subdebt ratings in Hong Kong

Global Credit Research - 03 Jun 2013 Hong Kong,
Moody's Investors Service announced today that it has put on review for downgrade five Hong Kong banks' subordinated debt (subdebt) ratings...

The following list contains the five Hong Kong banks whose subdebt ratings currently benefit from systemic support uplift and are now placed under review for downgrade:


Like all rating agencies, Moodys are as corrupt as all hell, but this isnt "payback" for the Snowden thing.
it was an expected outcome of the review.

edit on 25-6-2013 by alfa1 because: (no reason given)



posted on Jun, 25 2013 @ 01:29 PM
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What an amazingly transparent and gangster thing for the US Gov to do.. they aren't even trying to hide it.

edit: wait, it's not related?
edit on 25-6-2013 by jessejamesxx because: (no reason given)





 
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