On 21 June 2017 the rating agency Moody's Investor Service upgraded Nova KBM's long term deposit ratings by three notches from B2 to Ba2. The rating agency also upgraded Nova KBM's BCA and adjusted BCA to ba3 from b3. Outlook is stable.
The upgrade is mainly the result of improvement in asset quality and capital adequacy and a significant decline in Nova KBM's problem loans ratio, which stood at 36.3% at 2015 year-end and at 28.2% at end of 2016.
The stable outlook on Nova KBM's long-term deposit rating reflects Moody's expectation of no material changes in the Bank's credit profile over the next 12 – 18 months.
