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magazineRatings downgrade for Standard Chartered
Emerging markets focused bank Standard Chartered (STAN) is on the back foot thanks to a downgrade to its credit rating from credit agency Moody’s. Its debt is downgraded one notch to A1 from Aa3. This reflects expectations of lower profit as the bank looks to repair its balance sheet against a tough backdrop for revenue. At 717.3p the shares are down 6% in the past month. (TS)
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