S&P Global Ratings on March 7 upgraded the long-term issuer credit ratings of International Investment Bank to A- from BBB+, with a stable outlook.
Ratings also affirmed the bank's short-term issuer credit rating at A-2.
At the same time, the ratings were removed from under criteria observation, where they were placed Dec. 14, 2018.
The agency said the ratings are based on the bank's moderate enterprise risk profile and very strong financial risk profile. They also reflect the progress in the bank's efforts to reposition itself as a diversified European institution, including the relocation of its headquarters to Hungary from Russia.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.