trending Market Intelligence /marketintelligence/en/news-insights/trending/SgDczd7K2KQIIDRNONUfAg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Moody's assigns ratings to Hapoalim (Latin America)

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Moody's assigns ratings to Hapoalim (Latin America)

Moody's on April 29 assigned Baa2/Prime-2 long- and short-termglobal scale deposit ratings, as well as an national scale deposit rating,to Hapoalim (Latin America) SA,with a stable outlook.

Moody's also assigned Baa1(cr)/Prime-2 (cr) long- and short-termglobal counterparty risk assessments and a baa2 baseline credit assessment and adjustedbaseline credit assessment to the bank.

The ratings action reflects the Uruguay-based bank's close tieswith its parent company, Bank HapoalimBM, and while it has low asset risk and high capitalization and liquiditymetrics, Moody's does not believe the bank can operate as a stand-alone entity.

The bank's ratings do not incorporate any support from the Israeligovernment, from which its parent company benefits, the rating agency said.

Moody's noted that Hapoalim's ratings do not reflect its stand-alonecreditworthiness, but rather reflect the stand-alone credit profile of its ultimateparent.