Moody’s lifts Bank Uralsky view to positive

Moody's Investors Service said it affirmed the long-term local- and foreign-currency deposit ratings of Bank Uralsky Financial House at B3 and changed the outlook to positive from stable on these ratings.

The agency also said it affirmed the bank's baseline credit assessment/adjusted baseline credit assessment at B3, short-term local- and foreign-currency deposit ratings of not-prime, long-term counterparty risk assessment at B2(cr) and short-term credit risk assessment at not-prime(cr).

The ratings reflect the bank’s recently improving profitability and an expectation of lower credit costs in the next 12 to 18 months, Moody’s said.

Moody's also said it expects improving corporate governance due to reduced related-party exposures.

If the bank experiences a longer track record of improving profitability and higher capital adequacy, the agency said it could upgrade its ratings as long as there is significant deterioration of its asset quality and liquidity from the current levels.

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