trending Market Intelligence /marketintelligence/en/news-insights/trending/PsdmMAU_GyOJS7Z_l3Qipw2 content esgSubNav
In This List

Moody's upgrades Julius Bär Luxembourg unit, withdraws ratings

Blog

Insight Weekly: Global stock performance; hydrogen pilot projects; Powell's Fed future unsure

Blog

How Financial Institutions are Managing Exposure to U.S. Municipals

Blog

Top 100 Banks: Capital Ratios Show Resilience to the Pandemic

Blog

Banking Essentials Newsletter: October Edition


Moody's upgrades Julius Bär Luxembourg unit, withdraws ratings

Moody's upgraded Bank Julius Baer Luxembourg SA's long- and short-termlocal- and foreign-currency bank deposit ratings to A1/Prime-1 fromBaa1/Prime-2, following its acquisition by Julius Bär Gruppe AG from .

The long-term rating was assigned a stable outlook.

The rating agency on July 20 also upgraded the lender's long-and short-term counterparty risk assessments to Aa3(cr)/Prime-1(cr) fromA3(cr)/Prime-2(cr), its baseline credit assessment to "baa1" from"baa3" and its adjusted baseline credit assessment to "a3"from "baa3".

The ratings actions conclude the review for upgradeinitiated Dec. 22,2015. Prior to the acquisition, the bank was named CommerzbankInternational SA.

The agency said the upgrade of the baseline creditassessment reflects the lender's low financial and moderate business risks; itssound capitalization; and its solid funding and liquidity profile. However, therating is constrained by its high nominal leverage as well as its currentlylimited earnings generation capacity.

Moody's subsequently withdrew all of Julius BaerLuxembourg's ratings for its own business reasons.