Moody's rates Metallinvestbank A3.ru

Moody's Interfax Rating Agency said it assigned an A3.ru national scale rating to Metallinvestbank. Concurrently, Moody's said it affirmed the bank's existing global scale ratings, namely B2/NP for foreign currency deposits and E+ financial strength rating.

The outlook for the global scale ratings remains stable.

Moody's said the B2/NP global scale ratings reflect the bank's global default and loss expectation, while the A3.ru national scale rating reflects the standing of the bank's credit quality relative to its domestic peers.

The bank's B2/NP foreign currency deposit ratings and E+ FSR reflect its limited franchise as a house bank for a group of metallurgical companies, as well as its sectoral focus, sizable concentrations on both sides of the balance sheet, high levels of related-party exposure and weak profitability which are, however, somewhat tempered by the bank's experienced management and good capitalization, Moody's said.

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