Moody’s changes VTB 24 view

Moody's Investors Service said it affirmed the Ba1 ratings on some senior secured bonds issued by VTB 24 and changed the outlooks on those ratings to positive from stable.

Concurrently, the agency withdrew VTB 24's long-term local-currency deposit rating of Ba1, long-term foreign-currency deposit rating of Ba2, short-term deposit ratings of Not Prime, as well as the long and short-term counterparty risk assessment of Ba1(cr)/Not Prime(cr) respectively, baseline credit assessment of b1 and adjusted baseline credit assessment of b1 following completion of the legal merger between Bank VTB JSC and VTB 24.

“The change in the outlook on Russia's Ba1 government bond rating to positive from stable led to a corresponding change in the outlook on the senior secured debt ratings of VTB 24,” Moody’s said in a news release.

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