Moody’s revises Bank Julius Baer to stable

Moody's Investors Service said it affirmed Bank Julius Baer & Co. Ltd.'s (BJB) Aa2/P-1 long- and short-term deposit ratings and A2 long-term issuer ratings and changed the outlook on the long-term ratings to stable from negative.

The agency also affirmed the bank's Aa3(cr)/P-1(cr) counterparty risk assessment as well as its a2 baseline credit assessment (BCA) and a2 adjusted BCA.

In addition, Moody's affirmed Julius Baer Group Ltd.'s (JBG) A3 long-term issuer rating and changed the outlook to stable from negative.

The group's A3 subordinated debt rating, as well as the Baa3 (hyb) ratings assigned to the group's high-trigger additional Tier 1 (AT1) securities, were also affirmed.

Moody’s said the assignment of a stable outlook takes account the bank's as well as the group's higher earnings-generation capacity and thus both institutions' stronger ability to withstand external shocks following the successful integration of Merrill Lynch's International Wealth Management (IWM) business outside the United States.

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