S&P lowers VTB Bank, units

Standard & Poor's said it took the following rating actions on Russia's VTB Bank JSC and its subsidiaries:

• Lowered the long-term ratings on VTB Bank JSC, VTB Capital plc, VTB-Leasing, VTB-Leasing Finance, VTB Insurance Ltd. and Bank of Moscow OJSC to BBB- from BBB;

• Lowered the short-term ratings on VTB Bank, VTB Capital, VTB-Leasing, VTB-Leasing Finance and Bank of Moscow to A-3 from A-2;

• Affirmed the ruAAA Russia national scale ratings on VTB Bank, VTB-Leasing, VTB-Leasing Finance, VTB Insurance Ltd. and Bank of Moscow; and

• Lowered the ratings on VTB Bank (Kazakhstan) to BB+/B from BBB-/A-3 and the Kazakhstan national scale to kzAA- from kzAA.

All the outlooks on VTB Bank and its subsidiaries that S&P rates remain negative.

These actions follow the downgrade of Russia on April 25.

© 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.