Moody's upgrades Raiffeisen Bank

Moody's Investors Service said it upgraded Raiffeisen Bank SA's long-term and short-term local-currency deposit ratings to Baa2/prime-2 from Baa3/prime-3.

The bank's Baa3/prime-3 long-term and short-term foreign-currency deposit ratings, which are constrained by the respective country ceiling for Romania, were affirmed.

The outlook remains stable.

The agency also upgraded the bank's baseline credit assessment to Ba2 from Ba3 and its adjusted baseline credit assessment to Ba1 from Ba2.

The bank's long-term and short-term Baa2(cr)/prime-2(cr) counterparty risk assessments were affirmed.

The upgrades reflect an expectation that the benign economic conditions in Romania will support improvements in the bank's asset quality and maintaining adequate capitalization, good profitability and stable funding, Moody's said.

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