Moody’s International Rating Agency has reviewed ABB Bank’s ratings and upgraded the Bank’s long-term local- and foreign-currency deposit rating from Ba2 to Ba1, with a Stable outlook. This is the highest rating Moody’s has ever assigned to ABB Bank.
The Bank’s Baseline Credit Assessment (BCA) was upgraded from ba3 to ba2, its long-term local- and foreign-currency Counterparty Risk Ratings (CRRs) from Ba1 to Baa3, and its Counterparty Risk Assessment (CR Assessment) from Ba1 to Baa3.
The upgrade reflects a number of factors, including ABB Bank’s steadily improving profitability, high asset quality, strong capital position and high liquidity.
According to Moody’s, the measures being taken to diversify Azerbaijan’s economy are expected to support ABB Bank’s asset quality and profitability.
The Stable outlook on ABB Bank’s long-term deposit ratings reflects Moody’s expectation that the Bank will maintain its sound financial fundamentals over the next 12–18 months. The agency notes that ABB Bank’s profitability has improved in recent years and is expected to remain strong over the same period. Moody’s also emphasizes that the Bank’s capital position remains one of its key credit strengths.
Information about ABB Bank’s modern, useful and universal products and services is available at the Bank’s branches and offices, on its official website at abb-bank.az, through the 937 Information Center, as well as on the Bank’s official Facebook page.