Moody"s has upgraded the credit ratings of the Raiffeisen Group due to a more positive assessment of the bank"s capital quality.

The long-term deposit rating has been raised from "Aa3" to "Aa2," and the long-term rating for unsecured debt, including bonds, has increased from "A3" to "A2."

The outlook for long-term deposit ratings has shifted from "positive" to "stable," while the outlook for long-term bond ratings remains positive.

The upgrade is attributed to Raiffeisen"s strong capital quality and improved financial strength, which is a result of the bank"s efforts to diversify its income sources.

The bank aims to reduce reliance on mortgage income and expects increased corporate lending and a higher share of fee and commission income from asset management activities.

These developments are expected to enhance the bank"s stability against potential declines in interest rates in Switzerland.