Moody's improves outlook on IBA's ratings
International rating agency Moody's Investors Service has changed to stable from "negative" the outlook on the following global scale ratings of International Bank of Azerbaijan (IBA), the agency said in the report posted on its website.
The bank's standalone bank financial strength rating (BFSR) of E+, which is equivalent to a standalone baseline credit assessment (BCA) of b3, long-term local and foreign currency deposit ratings of Ba3, long-term foreign currency senior unsecured debt rating of Ba3, and long-term foreign currency subordinated debt rating of B1.
Moody's rating action is largely based on International Bank of Azerbaijan's audited financial statements for 2012, prepared under IFRS.