Moody’s rates VTB Capital Ba3

Moody's Investors Service said it assigned Ba3 long-term and Not Prime short-term local and foreign currency issuer ratings to VTB Capital plc.

The outlook was changed to stable from rating under review.

The agency confirmed VTB’s Ba3 long-term local and foreign currency bank deposit ratings and affirmed the Not Prime short-term local and foreign currency bank deposit ratings prior to withdrawing these deposit ratings.

Moody’s said this follows the shift in VTB's business model to investment banking rather than corporate banking and reduced emphasis on taking deposits from third parties.

VTB's baseline credit assessment of b2, adjusted BCA of b1, the long-term and short-term counterparty risk assessments of Ba1(cr) and Not Prime(cr) were also withdrawn.

The actions conclude the review for downgrade initiated on June 25, 2018.

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