Moody’s lowers IBA-Moscow view to stable

Moody’s Investors Service said it changed IBA-Moscow’s outlook to stable from positive.

The agency also said it affirmed the company’s B3 long-term local- and foreign-currency deposit ratings.

Moody’s also said it affirmed IBA-Moscow’s standalone baseline credit assessment, adjusted baseline credit assessment and counterparty risk assessment at B3 and B2(cr)/not-prime(cr).

The bank’s not-prime short-term local- and foreign-currency deposit ratings also were affirmed.

The outlook change to stable was driven by the reversal of asset-quality improvement trends seen in recent years, the agency said.

IBA-Moscow’s asset quality remains challenged by a relatively high level of impaired loans, Moody’s said.

The ratings also are constrained by a high level of restructured loans, high loan book concentration, high exposure to the construction and real estate sectors and high dependence on its parent’s related business projects and funding, 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.