Moody's on June 4 upgraded Raiffeisen Bank International AG's baseline credit assessment to "baa3" from "ba1."
The rating agency also affirmed the Austrian lender's A3/P-2 long- and short-term bank deposit ratings, its A3 senior unsecured debt rating, "baa3" adjusted baseline credit assessment and A3(cr)/P-2(cr) long- and short-term counterparty risk assessments. The outlook on the long-term bank deposit and senior unsecured debt ratings remains stable.
The upgrade of RBI's baseline credit assessment is based on the agency's view that the bank has made further progress in de-risking itself and that it can maintain this trend in the future, including, but not entirely depending on the announced sale of the majority of its Polish operations.
The stable outlook reflects Moody's expectation that RBI will be able to sustain and protect its stronger creditworthiness, but that further improvement is unlikely over the outlook horizon.
