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Society

Moody’s upgrades IDBank’s long-term deposit ratings to B1, changes outlook to positive

Moody’s Investors Service has upgraded IDBank’s long-term local and foreign currency bank deposit ratings to B1 from B2 and changed the outlook on these ratings to stable from positive.

IDBank reported that concurrently, Moody’s upgraded the bank’s Baseline Credit Assessment (BCA) and Adjusted BCA to b1 from b2, upgraded the bank’s long-term local and foreign currency Counterparty Risk Ratings (CRRs) to Ba3 from B1, and upgraded the long-term Counterparty Risk Assessment (CR Assessment) to Ba3(cr) from B1(cr).

The bank is supervised by the CBA.