Moody's affirms Bank VTB

Moody's Investors Service said it affirmed the Baa1 supported long-term local- and foreign-currency deposit ratings, Baa1 senior debt ratings, Baa2 subordinated debt ratings and P-2 short-term local- and foreign-currency deposit ratings of Bank VTB and its two subsidiaries, VTB24 and Bank VTB North-West. The outlook on these ratings is stable.

Concurrently, Moody's Interfax Rating Agency affirmed VTB24's and VTB North-West's Aaa.ru national scale ratings, which carry no specific outlook.

Finally, Moody's affirmed the D- stand-alone bank financial strength ratings of the banks and changed the outlook on those ratings to stable from negative.

The agency said the rating actions reflect the stable trends in the banks' financial fundamentals. The operating environment in Russia is showing signs of improvement after a turbulent 2009, Moody's said, and the asset quality of the banks, which has been a particular concern since late 2008 when the crisis hit Russia, is stabilizing. In addition, Moody's said provisions and capital buffers appear adequate to offset expected credit losses under the agency's base case stress-tests.

© 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.