Moody's Upgrades Liberty Bank's long-term ratings

Moody's upgraded JSC Liberty Bank's long-term bank deposit rating to Ba3 from B1 and changed the outlook to stable from positive.

The agency also upgraded the bank's long-term counterparty risk rating to Ba2 from Ba3, long-term counterparty risk assessment to Ba2(cr) from Ba3(cr) and baseline and adjusted baseline credit assessments to "b1" from "b2." The bank's Not Prime(cr) short-term counterparty risk assessment and Not Prime short-term counterparty risk and bank deposit ratings were affirmed.

Moody's said the ratings actions reflect the company's improved financial fundamentals and the agency's assessment of a moderate probability of support for the bank from Georgia. The outlook change reflects the agency's view that the company's profitability, capitalization and liquidity balance the risks arising from a developing operating environment, rapid growth in corporate loan book and risks arising from the implementation of the bank's new business model, the agency said.