Moody"s has upgraded the long-term deposit rating of the Raiffeisen Group from "Aa3" to "Aa2," reversing a previous downgrade related to the scandal involving former CEO Pierin Vincenz.

The rating agency has also changed the outlook on the long-term rating from "stable" to "positive," indicating an improvement in creditworthiness.

Along with the deposit rating, Moody"s has raised Raiffeisen"s long-term senior unsecured ratings from A3 to A2.

This upgrade is attributed to the banking group"s strong capital quality, despite existing risks in the Swiss real estate market.

Raiffeisen"s capital buffer has been strengthened by increased profitability and high retained earnings, which has further enhanced its financial stability.