Moody's cuts International Investments

Moody's Investors Service said it downgraded International Investments Bank's bank financial strength rating to E from E+, long-term local- and foreign-currency deposit ratings to Caa1 from B3 and national-scale rating to Ba3.ru from Baa3.ru. The bank's deposit ratings and national-scale rating were placed under review for a possible further downgrade.

The outlook on the financial strength rating is stable.

International Investments Bank's ratings' downgrade and review for a possible further downgrade reflects the substantially increased liquidity risk and uncertainty regarding the bank's franchise, the agency said.

The ratings consider the quality and reliability of the information available regarding the bank's situation, the agency added.

© 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.