Banks downgraded

Moody's downgraded the outlook for Singapore's three main banks to "negative" from "stable".

The outlook downgrade covers DBS Bank, Oversea‑Chinese Banking Corporation (OCBC) and United Overseas Bank (UOB).

Moody's cited rising property prices and mounting household debt in Singapore as the reasons for the outlook downgrade.

According to the article, Moody's changed the banks' outlook to "negative," reflecting its view of their prospects over the coming period; the report focuses on the banks' near‑term outlook.

Moody's outlook report covers the banks' prospects over the next 12 to 18 months.

The article states Moody's downgraded the outlook to "negative" from "stable"; it does not say that Moody's cut the banks' actual credit ratings.

The article specifies two risks cited by Moody's: increasing property prices and growing household debt in the city‑state.

The change was reported in Moody's outlook report, which covers the banks' expected prospects for the next 12 to 18 months.