Moody's: Kedr view to negative

Moody's Investors Service said it changed the outlook on the B2 long-term global local and foreign currency deposit ratings and the B2 long-term global local currency debt ratings of Kedr Bank to negative from positive.

At the same time, Moody's affirmed the standalone bank financial strength rating of E+, mapping to B2 on the long-term scale; and the Not-Prime short-term local and foreign currency deposit ratings.

Moody's said the changes reflect its concerns that recent changes in ownership could lead to weakening corporate governance culture and subsequently to deterioration of the bank's risk profile over the medium term.

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