Moody’s lifts Asia Commercial Bank

Moody's Investors Service said it upgraded the long-term deposit and issuer ratings of Asia Commercial Bank to B2 from B3.

The agency also upgraded the baseline credit assessment and adjusted baseline credit assessment to b3 from caa1.

The outlook on the long-term deposit and issuer ratings was changed to stable from positive.

In addition, Moody's upgraded the bank’s long-term counterparty risk assessment (CR Assessment) to B1(cr) from B2(cr). The short-term CR assessment was affirmed at NP(cr)

Moody’s said the upgrade in the baseline credit assessment and adjusted baseline credit assessment was driven by improvements in Asia Commercial Bank’s standalone credit profile. Specifically, the bank's asset quality metrics have stabilized as management has pursued a more conservative strategy on loan growth, the agency said.

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