Moody’s upgrades Aktia Bank

Moody’s Investors Service said it upgraded the long- and short-term deposit ratings of Aktia Bank plc to A1/P-1 from A3/P-2.

The long-term senior unsecured rating was upgraded to A1 from A3.

The baseline credit assessment was upgraded to a3 from baa2.

Furthermore, the long-term foreign and local currency counterparty risk ratings were upgraded to Aa3 from A2, and the long-term counterparty risk assessment was upgraded to Aa3(cr) from A2(cr).

The short-term local foreign and local currency counterparty risk ratings and short-term counterparty risk assessments were affirmed at P-1 and P-1(cr), respectively.

The outlook was changed to stable from positive.

“The primary driver of the rating upgrade is the consistent improvement in Aktia Bank's standalone financial performance over the last two years, including a successful diversification of the bank's income mix, through the expansion of its asset management business,” Moody’s said in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.