Moody's Investors Service today upgraded the long-term foreign- and local-currency deposit ratings of International Bank of Azerbaijan (IBA) to B3 from Caa1, the agency reported.
IBA's baseline credit assessment (BCA) was upgraded to caa2 from caa3 and the long-term counterparty risk assessment (CRA) to B2(cr) from B3(cr).
The long-term deposit ratings continue to carry a positive outlook.