Moody’s has upgraded Unibank long-term local and foreign currency bank deposit ratings to B1 from B2 and changed the outlook on these ratings to stable. 

The bank reported that its Baseline Credit Assessment (BCA) and Adjusted BCA have been upgraded to b2 from b3, long-term local and foreign currency Counterparty Risk Ratings (CRRs) to B1 from B2, and the long-term Counterparty Risk Assessment (CR Assessment) to B1(cr) from B2(cr). 

“The upgrade of Unibank’s BCA and Adjusted BCA to b2 from b3 is driven by a significant improvement in loan book quality and profitability over the last two years,” the news release reads.