Moody's on Jan. 10 assigned long- and short-term local- and foreign-currency deposit ratings of Aa2/Prime-1 to Union Bancaire Privée UBP SA, with a stable outlook on the long-term ratings.

The rating agency also assigned the Swiss private bank baseline and adjusted baseline credit assessments of "a1," long- and short-term counterparty risk assessments of A1(cr)/Prime-1(cr) and long- and short-term local- and foreign-currency counterparty risk ratings of A2/Prime-1.

Moody's said the bank's baseline credit assessment reflects its very limited on-balance-sheet business risks, exceptionally strong and high-quality risk-weighted capitalization, and high liquid balance sheet. The stable outlook on the long-term ratings reflect the agency's expectation of a stable financial profile in the next 12 to 18 months.