Moody’s might lift Depfa

Moody's Investors Service said it placed on review for upgrade the Baa2 senior unsecured debt ratings of Depfa Bank plc.

Concurrently, the agency placed the Baa2/P-2 deposit ratings of Depfa and Depfa ACS Bank on review for upgrade.

Furthermore, Moody's placed on review for upgrade the banks' ba3 baseline credit assessments and ba3 adjusted BCAs, as well as their Baa2(cr)/P-2(cr) counterparty risk assessments.

The outlook was changed to ratings under review from stable.

The agency said the actions reflect Moody's assessment that Depfa’s ratings are under upward pressure considering improving capitalization and reduced asset risk as a result of the continued successful wind-down of the group's assets.

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