Moody’s ups Valiant deposit to A1

Moody's Investors Service said it upgraded Valiant Bank AG's long-term deposit ratings to A1 from A2, following the upgrade of its baseline credit assessment and adjusted BCA to a3 from baa1.

Concurrently, the agency affirmed Valiant's short-term deposit rating at P-1 and the bank's counterparty risk assessment at A3(cr)/P-2(cr).

The outlook on the long-term deposit ratings is stable.

Moody's said the upgrade reflects Valiant's generally improved financial profile, including higher capitalization that increases the bank's loss-absorbing risk buffers and a significant build-up of liquid reserves that strengthens its liquidity profile.

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