Moody's rating agency has upgraded financial strength rating of Erste Bank to D+ from D with the stable outlook. The upgrade was affected by the recent positive financial results of the bank and achievements in the field of successful integration of Erste Bank Hungary with Postabanka
Our view:
Erste Bank Hungary has been put on the review list with possible rating upgrade by Moody's agency in July. We see this news as positive, however given the recent upgrades from rating agencies (of Erste Bank and its subsidiaries) we don't expect the news to have a significant impact on the stock price today.