Moody’s upgrades Bankoa

Moody's Investors Service said it upgraded Bankoa, SA's long-term deposit ratings to Baa1 from Baa2.

The agency also upgraded the bank's baseline credit assessment to baa3 from ba1, its adjusted baseline credit assessment to baa1 from baa2 and its long-term counterparty risk assessment to A3(cr) from Baa1(cr).

The bank's short-term deposit ratings and short-term counterparty risk assessment were affirmed at Prime-2 and Prime-2(cr), respectively.

The outlook is stable.

Moody’s said the action was prompted by its assessment of the institution's improved asset risk, while its profitability, although modest, remains remarkably stable and resilient to pressures stemming from the low interest rate environment.

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