Moody`s upgrades Azerbaijani bank’s deposit rating
Moody`s Investors Service on December 11 upgraded OJSC Xalq Bank`s long-term local and foreign currency deposit ratings to B2 from B3.
Moody`s affirmed Xalq Bank`s standalone E+ bank financial strength rating (BFSR), which is equivalent to a baseline credit assessment (BCA) of b3, and the bank`s Not Prime short-term local and foreign currency deposit ratings.
At the same time, Moody`s assigned low probability of systemic support to the Azerbaijan-based Xalq bank, resulting in one notch of uplift above its BCA.
All the aforementioned long-term ratings carry a stable outlook.
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