Moody’s international credit rating agency raised Converse Bank’s ratings.

Specifically the Long-term Bank Deposits (Local and Foreign Currency) Rating was upgraded to B1 from B2, outlook Stable, and the Counterparty Risk Rating was upgraded to Ba3 from B1.

The bank’s Baseline Credit Assessment remains supported by solid capital buffers with TCE ratio of above 12% and healthy profitability, diversified funding and liquidity profiles, and strong financial and business support from the shareholder.