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Fitch affirms Moscow Narodny
Fitch Ratings said it affirmed the ratings of Moscow Narodny Bank Ltd. at long-term BBB-, short-term F3, individual C and support 3.
The outlook for the long-term rating is stable.
Fitch said the long-term, short-term and individual ratings reflect Moscow Narodny Bank's strong capitalization, its U.K. domicile and supervision by a strong regulator and adequate asset quality. However, Fitch said they also take into account its exposure and links to Russia (rated BB+), the volatility of its trading operations, its concentrated loan portfolio and modest profitability.
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