Moody's on Oct. 16 revised the outlook on First International Bank of Israel Ltd.'s long-term bank deposit ratings to positive from stable, while affirming the ratings at A3.

The Israeli bank's short-term bank deposit ratings were affirmed at P-2.

The rating agency also affirmed the bank's long- and short-term counterparty risk ratings at A2/P-1, its baseline and adjusted baseline credit assessments at "baa3" and its long- and short-term counterparty risk assessments at A2(cr)/P-1(cr).

The change in outlook reflects the rating agency's view that the steady improvement in the bank's asset quality, capitalization and profitability will continue over the coming quarters.