Moody's assigns Ripple's stablecoin RLUSD an A2 and P-1 deposit rating

Moody's has assigned an A2 long-term deposit rating and a P-1 short-term deposit rating to the stablecoin RLUSD issued by Ripple, covering the rating range for RLUSD natively issued on the XRP Ledger and Ethereum.

According to The Defiant, this rating incorporates the reserve backing arrangements of RLUSD in its assessment and weighs the risk exposure for holders due to the issuer's bankruptcy. The rating also applies to the native RLUSD assets on both of the aforementioned chains.