Moody's lifts Ingosstrakh to Aa2.ru

Moody's Investors Service said it upgraded Russia-based Ingosstrakh Insurance Co.'s national scale rating to Aa1.ru from Aa2.ru.

This completes the review for possible upgrade begun on Nov. 3, and the outlook is stable.

The agency said the upgrade reflects Ingosstrakh's reduced exposure to Soyuz Bank, which Moody's identified as one of the key rating constraints in the past, and the company's sustained profitability and capitalization in the context of a challenging operating environment and a rapidly growing market.

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