OREANDA-NEWS. December 25, 2009. Moody's Investors Service took rating actions affecting the National Bank of Uzbekistan for Foreign Economic Activities. The long-term foreign currency deposit rating of the bank was upgraded to B2 from B3.

The bank's E+ BFSR and Not Prime short-term deposit ratings remain unchanged; stable outlook is maintained on all of the ratings.

Moody's previous rating action on the National Bank of Uzbekistan was on 21 May 2009 when the rating agency placed their local currency deposit ratings on review for possible downgrade.

Headquartered in Tashkent, Uzbekistan, National Bank of Uzbekistan reported total IFRS assets of US3 billion (2007: US 2.5 billion) and net income of US 23 million as at 31 December 2008.

The principal methodologies used in rating are Moody's "Bank Financial Strength Ratings: Global Methodology", published in February 2007, and "Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology", published in March 2007.