Moody's boosts Doral

Moody's Investors Service said it upgraded the senior debt rating of Doral Financial Corp. to B1 from B2.

Following the upgrade, the outlook is stable.

The rating action reflects Moody's view that Doral's substantial capital base and ample liquidity allows the company to begin executing its community bank business strategy on Puerto Rico.

Doral's board and managerial ranks continue to be strengthened, Moody's said, noting that in addition, Doral's expense base in future periods will no longer be burdened to the same extent by costs associated with its accounting, regulatory and legal challenges.

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