(Alliance News) - Credito Emiliano on Thursday reported that Moody's Ratings has upgraded its long-term deposit rating to "Baa1" from "Baa2." The Outlook on long-term deposits was raised to "Stable" from "Positive."

The agency confirmed all other ratings assigned to Credem and maintained the Outlook on Senior Unsecured debt "Stable."

"The ratings assigned reflect the bank's good solvency and liquidity, asset quality, capital strength and significant increase in profitability. The improvement in the rating on long-term deposits reflects the decline in expected losses on deposits estimated by Moody's analysis model," reads the released note.

Credito Emiliano on Thursday is flat at EUR8.89 per share

By Maurizio Carta, Alliance News reporter

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