Moody's lowers DSK Bank's BFSR

Moody's Investors Service said it confirmed DSK Bank's long- and short-term local and foreign-currency deposit ratings at Baa3/Prime-3 and lowered its standalone bank financial strength rating to D, mapping to a standalone credit assessment of Ba2, from D+/Ba1.

The outlook is negative.

Moody's said the lowering of the standalone bank financial strength rating reflects the bank's weakening standalone financial strength, owning to the challenging operating environment, which has resulted in an increase in non-performing loans and lower profitability compared with pre-crisis levels.

The confirmation of the deposit ratings reflects Moody's view that despite these challenges, DSK continues to benefit from a high likelihood of both parental and systemic support, in case of need, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.