Moody's: Investment Trade Bank negative

Moody's Investors Service said it changed the outlook on Investment Trade Bank's B2 long-term local and foreign currency deposit ratings to negative from stable.

The outlook on the bank's E+ bank financial strength rating remains stable.

Investment Trade Bank's Not Prime short-term local and foreign currency deposit ratings were affirmed.

Moody's said the announcement primarily reflects Investment Trade Bank's significant single-name and single-industry credit exposures, weak quality of the bank's loan book and low capitalization levels coupled with sizeable investments into properties.

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