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Moody's changes outlook on Israel Discount Bank's ratings

Moody's on March 29 affirmed the Baa1 long-term local- and foreign-currency deposit ratings of Israel Discount Bank Ltd. and revised the outlook to positive from stable.

The outlook revision reflects the agency's expectation that the bank's financial fundamentals, mainly profitability and efficiency, will continue to improve in the coming quarters.

The rating agency affirmed the bank's "ba1" baseline and adjusted baseline credit assessments, A3(cr) long-term counterparty risk assessment, Prime-2 local- and foreign-currency short-term deposit ratings and Prime 2(cr) short-term counterparty risk assessment.