Moody’s upgrades Tatra Banka

Moody's Investors Service said it upgraded Slovakia's Tatra Banka as' long-term deposit ratings to A3 from Baa1, long-term issuer ratings to Baa1 from Baa2 and baseline credit assessment and adjusted BCA to baa3 from ba1.

At the same time, the agency affirmed Tatra's Prime-2 short-term deposit ratings, upgraded its counterparty risk assessment to A2 (cr)/Prime-1 (cr) from A3 (cr)/Prime-2 (cr) and changed the outlook on the long-term ratings to stable from positive.

This action reflects the upgrade of the baseline credit assessment of Tatra's parent Raiffeisen Bank International AG (deposits Baa1 stable; BCA ba2), as well as the continuing strong performance of Tatra evidenced by its first-half 2016 performance.

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