Moody's: International Industrial Bank view negative

Moody's Investors Service said it changed the outlook on the B1 long-term senior unsecured debt rating of International Industrial Bank to negative from stable.

The action was driven by concerns regarding the bank's high reliance on wholesale debt and on deposits from the Central Bank of Russia, and the significant volume of funding coming due in the next 12 months, the agency said.

These risks are partly mitigated by the bank's ability to refinance its Central Bank of Russia debt through collateralized credit lines and by observed signs of recovery in the capital markets over the past few months, Moody's noted.

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