UBS Group had the credit rating for its main operations raised by Moody’s Investors Service, which said the restructured investment bank and wealth-management business should help the bank weather a market downturn.
The long-term deposit rating was upgraded by one notch to Aa2. The outlook was changed to stable.
UBS scaled back its investment bank after the financial crisis to reduce risk and focus on its large wealth-management business, which provides more stable earnings. The bank has cut the amount of capital allocated to the investment bank, focusing on areas such as equities, foreign exchange and advisory services.
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