Moody’s Upgrades Erste Bank Rating

Banking

Credit rating agency Moody's upgraded the long-term deposit rating of Erste Bank Hungary, according to a recent report. 

Moody’s raised Erste’s rating from Baa1 to A3, while confirming the bank's basic credit rating of Ba1. The outlook for long-term deposit ratings remained stable.

The agency justified the confirmation of the stable outlook for the bank's long-term deposit classification by the fact that the bank's independent risk profile has not changed significantly in the recent past. 

The outlook is also consistent with the stable outlook of the Hungarian government.

 

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