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Moody's revises outlook on Israel Discount Bank to positive

Moody's on Dec. 19 affirmed Israel Discount Bank Ltd.'s A3/Prime-2 long- and short-term deposit ratings and changed the outlook on the long-term rating to positive from stable on the back of its recent financial performance.

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

Moody's said the rating action reflects the bank's efforts in reducing the gap between it and its domestic peers, along with the agency's expectation that there will be further improvement in Israel Discount Bank's solvency over the outlook period.