Moody’s upgrades NBD Bank deposits

Moody's Investors Service said it upgraded NBD Bank's long-term local and foreign-currency deposit ratings to Ba3 from B1 and changed the outlook to stable from positive.

The agency also upgraded NBD Bank's baseline credit assessment (BCA)/adjusted BCA to ba3 from b1 and its counterparty risk assessment to Ba2(cr) from Ba3(cr).

Concurrently, Moody's affirmed the Not Prime short-term local and foreign-currency deposit ratings and the Not Prime(cr) short-term counterparty risk assessment.

The overall outlook was changed to stable from positive.

Moody’s said the upgrade reflects the bank's robust financial fundamentals and its demonstrated resilience to the economic and banking downturns of 2008-2009 and 2014-2015.

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