Moody’s ups Landesbank Saar deposits

Moody's Investors Service said it upgraded Landesbank Saar's (SaarLB) long-term deposit ratings to A1 from A2 with a stable outlook.

At the same time, the agency upgraded SaarLB's baseline credit assessment (BCA) to ba1 from ba2, its adjusted BCA to baa2 from baa3 and its long-term counterparty risk assessment to A1(cr) from A2(cr). The short-term deposit ratings were affirmed at P-1, as well as its short-term counterparty risk assessment at P-1(cr).

Moody’s said the upgrade reflects the strengthening of SaarLB's financial fundamentals, in particular the improvement of its capitalization and liquidity profile, while the stable outlook reflects the agency’s expectation that SaarLB will be able to sustain its more solid credit metrics.

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