Moody's lowers Moscow Bank view to negative

Moody's Investors Service said it changed to negative from stable the outlook on Moscow Bank for Reconstruction and Development's B1 long-term global-scale local- and foreign-currency deposit ratings, B1 local-currency senior unsecured debt rating and B2 foreign-currency subordinated debt rating.

The agency also said it affirmed the bank's B2 rating on the long-term scale. This rating has a stable outlook.

The bank's not-prime short-term deposit ratings also were affirmed.

The outlook revision is primarily based on the bank's audited financial statements for 2010, Moody's said, and its unaudited financial statements for the first half of 2011.

The assessment also reflects the strategic and operational support that the bank continues to receive from its parent, JSFC Sistema, the agency said.

The ratings are constrained by considerable concentrations in the bank's loan portfolio and liabilities, Moody's 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.