May 14, 2018 / 1:22 AM / 2 months ago

Moody's says AMP governance failures adding pressure to rating

May 14 (Reuters) - Rating agency Moody’s said on Monday that governance failures on the part of AMP Ltd as revealed by the quasi-judicial inquiry into the country’s financial sector were creating additional pressure on its rating.

“AMP’s credit profile is under pressure, despite its strong capitalization and market position, because of the potential for reputational damage and additional legal and compliance costs associated with the allegations of governance failures,” Frank Mirenzi, a Moody’s senior credit officer, said in a statement.

Reporting by Susan Mathew in Bengaluru; Editing by Edwina Gibbs

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below