Moody's adjusts Bulgaria, Israel, Lithuania

Moody's Investors Service said it adjusted the local-currency bond and deposit ceilings and the foreign-currency bond and deposit ceilings of Bulgaria, Israel and Lithuania. The sovereign ratings of these countries are unaffected by these changes.

The ceilings relate to the highest rating that can be assigned to a domestic issuer in these countries, or to a structured finance security backed by local currency receivables.

The changes are as follows:

Bulgaria: Moody's adjusted the long-term foreign and local-currency bond ceilings to A3 from Aa3. The ceiling for local-currency deposits was adjusted to A3 from Baa2, while the foreign-currency deposit ceiling remains at Baa2. The short-term foreign-currency bond ceiling was changed to P-2 from P-1. The short-term foreign-currency deposit ceiling remains at P-2;

Israel: Moody's adjusted the long-term foreign-currency bond and local-currency bond ceilings to Aa3 from Aa1. The long-term local-currency deposit ceiling was adjusted to Aa3 from Aa2. The long-term foreign-currency deposit ceiling remains at A1. The short-term foreign-currency bond and deposit ceilings remain at P-1; and

Lithuania: Moody's adjusted the long-term foreign-currency bond ceiling to A2 from Aa2 and the ceiling for local-currency bonds and deposits were also adjusted to A2 from Aa1. The foreign-currency deposit ceiling remains at Baa1. The short-term foreign currency bond and deposit ceilings remain at P-1 and P-2, respectively.

Moody's said it adjusted country ceilings to better reflect the linkages between the different sectors in the economy and to better capture the default correlation between the government and private-sector borrowers.

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