Moody's upgraded Banque Cantonale Vaudoise's long-term counterparty risk assessment to Aa3(cr) from A1(cr) and affirmed its P-1(cr) short-term counterparty risk assessment.
The agency said the upgrade of the long-term counterparty risk assessment reflects growth in senior unsecured liabilities.
Moody's added that it could upgrade the bank's long-term deposit ratings, which were unaffected by the actions, and counterparty risk assessment if stronger fundamentals were to justify an upgrade of its baseline credit assessment, among other factors.
