Moody’s lifts Nova Kreditna ratings

Moody's Investors Service said it upgraded Nova Kreditna banka Maribor dd's local and foreign currency deposit ratings to Baa3/Prime-3 from Ba2/Not Prime.

The agency also lifted the long-term and short-term counterparty risk ratings to Baa2/Prime-2 from Baa3/Prime-3, the long-term and short-term counterparty risk assessment to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr), and the baseline credit assessment and adjusted BCA to ba2 from ba3.

The outlook remains positive.

Moody’s said the action reflects an assessment of further material progress made in terms of reduction of legacy problem loans as well as changes in the liability structure of Nova Kreditna which resulted in higher rating uplift under the agency’s analysis.

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