Moody’s lowers Investment Trade Bank

Moody's Investors Service said it downgraded Investment Trade Bank's long-term global local and foreign currency deposit ratings to Ca from Caa3 and placed them on review with direction uncertain.

The agency also affirmed the bank's Not Prime short-term local and foreign currency deposit ratings.

Concurrently, Moody's downgraded the bank's baseline credit assessment and adjusted BCA to ca from caa3 and placed them on review with direction uncertain.

The long-term counterparty risk assessment was lowered to Caa3(cr) from Caa2(cr) and placed it on review with direction uncertain. The short-term counterparty risk assessment was affirmed at Not Prime(cr).

At the same time, Moody's Interfax Rating Agency downgraded the national scale long-term deposit rating of Investment Trade Bank (Russia) to Ca.ru from Caa3.ru; the rating was placed on review with direction uncertain.

Moody’s said the actions follow the Central Bank of Russia's (CBR) Aug. 27 announcement that the state Deposit Insurance Agency (DIA) had taken Investment Trade Bank into temporary administration.

© 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.