Moody's affirms Russian Agricultural Bank

Moody's Investors Service said it affirmed Russian Agricultural Bank's Baa1/Prime-2 long-and short-term foreign currency deposit ratings, Baa1 senior debt rating and Baa2 subordinated debt rating.

The outlook is stable.

Moody's Interfax Rating Agency said it also affirmed the Aaa.ru long-term national scale credit rating.

The ratings remain constrained by the potential susceptibility of the bank's business to political decisions and by balance sheet weaknesses such as high industry concentrations in the loan portfolio, weakening asset quality and reliance on market sources for funding, Moody's said.

The ratings are supported by the bank's developed franchise in the Russian agribusiness sector and its position as the fourth-largest bank in the country in terms of assets and capital, the agency said.

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