Confidence rising: Moody’s lifts Hungarian bank’s credit rating
Moody’s Ratings on Friday said it upgraded Raiffeisen Bank Hungary’s senior unsecured ratings to Baa2 from Baa3.
The outlook on these ratings remains stable. Moody’s also upgraded the bank’s senior unsecured MTN program ratings to (P)Baa2 from (P)Baa3. All other ratings and assessments of the bank were not affected by this action, the credit rating agency said.
The upgrade reflects the bank’s Baa3 Baseline Credit Assessment (BCA) and Adjusted BCA, it said. Moody’s upgraded the bank’s BCA and Adjusted BCA in December to baa3 from ba1.
The ratings agency then said the decision reflected the lender’s “sustained improved financial performance and robust profitability” and “robust asset quality and substantial liquidity reserves”.
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