Moody’s rates TBI notes Ba3

Moody's Investors Service said it assigned a Ba3 long-term foreign-currency rating to the senior unsecured debt to be issued by TBI Bank EAD. The senior unsecured debt, which is referred to as senior preferred notes by the issuer, will constitute eligible liabilities for TBI Bank's minimum requirement for own funds and eligible liabilities (MREL).

“The Ba3 senior unsecured debt rating reflects TBI Bank's ba3 baseline credit assessment (BCA) and adjusted BCA and no rating uplift from Moody's advanced loss given failure (LGF) analysis indicating a moderate loss-given-failure for these instruments. Moody's also assumes a low probability of government support in line with its support assumptions for the bank's junior deposits,” the agency said in a press release.

The outlook is stable.

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