Moody's Investors Service ("Moody's") has upgraded IDBank's long-term local and foreign currency bank deposit ratings to B1 from B2 and changed the outlook on these ratings to stable from positive.

Concurrently, Moody's upgraded the bank's Baseline Credit Assessment (BCA) and Adjusted BCA to b1 from b2, upgraded the bank's long-term local and foreign currency Counterparty Risk Ratings (CRRs) to Ba3 from B1, and upgraded the long-term Counterparty Risk Assessment (CR Assessment) to Ba3(cr) from B1(cr).