Moody, Augusto rate Heritage Bank high on asset quality

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Two rating agencies, Moody and Augusto & Co. in a recent rating affirmed that Heritage Bank capitalization remains sound in relation to its low asset risk model and has capacity to generate income from its core business and settle its obligation timely.

According to Moody, under the new methodology, the bank credit metrics ratings remain consistent with an a3 BCA when measured against Australia macro profile.

A statement from Heritage Bank explained that this was part of efforts to furnish investors with objective analyses and independent assessments of its securities, bonds and credit assets, thereby engaging the services of Moody and Augusto & Co. to provide superior information on credit risk and other investment instruments.

The bank said, “The international and local ratings investment metrics is a welcome development to the bank and, in light of this sterling achievement, we swiftly need to improve on our performances in order to boost our subsequent ratings.”

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