Moody's lifts Locko-bank view to positive

Moody's Investors Service said it affirmed the B1/not-prime long-term and short-term local- and foreign-currency deposit ratings of Locko-bank and changed the outlook on the long-term deposit ratings to positive from stable.

The agency also said it affirmed the bank's b1 baseline credit assessment and adjusted baseline credit assessment, along with its Ba3(cr)/not-prime(cr) long-term and short-term counterparty risk assessment and Ba3/not-prime long-term and short-term local- and foreign-currency counterparty risk ratings.

The ratings reflect its strong financial metrics and the significant recent changes in the bank's business model that reduce its business diversification and may lead to increased asset risk, Moody's said.

Locko-bank demonstrates strong financial fundamentals, the agency said.

Profitability benefits from a wide net interest margin, strong fee and commission income and moderate credit losses, Moody's said.

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