Moody's yesterday raised foreign currency rating of the Czech Republic to A1 from Baa1. The process of economic and financial integration with the EU is virtually irreversible, the agency said.
Consequently, Moody's placed the deposit and debt ratings of Komercni banka and Ceska sporitelna, Erste Bank's 94%-owned Czech subsidiary, on review for possible upgrade; both Komercni and Ceska sporitelna have currently Baa1/P-2 ratings. Positive.
Jan Hajek