Moody's ups 4 Uruguay banks

Moody's Investors Service said it upgraded four banks in Uruguay in response to the upgrade to Ba2 from B1 of Uruguay's country ceiling for foreign-currency deposits, which constrains the foreign-currency deposit ratings of these banks.

Banco de la República Oriental del Uruguay's foreign-currency deposit rating was upgraded to Ba1/not-prime from Ba3/not-prime, foreign-currency national scale deposit rating to Aa2.uy from A1.uy, local-currency deposit rating to Baa2/prime-2 from Baa3/prime-3 and local-currency national scale deposit rating to Aaa.uy from Aa1.uy. The outlook is stable.

Banco Hipotecario del Uruguay's foreign-currency deposit rating was upgraded to Ba1/not-prime from Ba3/not-prime, foreign-currency national scale deposit rating to Aa2.uy from A1.uy, local-currency deposit rating to Baa2/prime-2 from Baa3/prime-3 and local-currency national scale deposit rating to Aaa.uy from Aa1.uy . The outlook is stable.

Banco Itaú Uruguay SA's foreign-currency deposit rating was upgraded to Ba2/not-prime from B1/not-prime and foreign-currency national scale deposit rating to Aa3.uy from A2.uy. The outlook is stable.

Crédit Uruguay Banco SA's foreign-currency deposit rating was upgraded to Ba2/not-prime from B1/not-prime and foreign-currency national scale deposit rating to Aa3.uy from A2.uy.

Lloyds TSB Bank plc (Uruguay)'s local-currency deposit rating to A3/prime-2 from Baa2/prime-2, foreign-currency deposit rating to Ba2/not-prime from B1/not-prime and foreign-currency national scale deposit rating to Aa3.uy from A2.uy. The outlook is stable.

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