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Moody's places Austria-based Addiko Bank's ratings on review for upgrade

Moody's on Oct. 11 placed Addiko Bank AG's Ba3/Not Prime long- and short-term deposit ratings on review for upgrade.

Prior to the placement, the long-term rating had a stable outlook.

Also placed on review for upgrade are the Austria-based bank's Ba2(cr)/Not Prime(cr) long- and short-term counterparty risk assessments and Ba3/Not Prime counterparty risk ratings. Addiko Bank's "ba2" baseline and adjusted baseline credit assessments are not affected, the agency said.

Moody's said that the review for upgrade is driven by the bank's planned issuance of subordinated debt, which is seen to boost the loss absorption buffers for the lender's depositors and counterparty risk exposures.