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Moody's ups VTB view to stable
Moody's Investors Service said it changed to stable from negative the outlook on the D- bank financial strength ratings of VTB Capital plc, VTB Bank (Austria) and VTB Bank (France). The agency also said it affirmed the banks' Baa3 long-term local- and foreign-currency deposit ratings, Baa3 senior debt ratings and prime-3 short-term local- and foreign-currency deposit ratings.
The outlook is stable.
The outlook revision reflects the stable trends in their financial fundamentals, Moody's said.
As those banks are mostly exposed to Russian counterparties in terms of credit risk, the gradual economic recovery in that country is supportive of their asset quality, the agency said.
Loan loss provisions and capital buffers at those banks appear to be sufficiently adequate to offset expected credit losses under the agency's base case stress tests, Moody's said.
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