Moody’s raises Tinkoff Bank

Moody’s Investors Service said it raised Tinkoff Bank’s senior unsecured debt rating to Ba2 from Ba3 and affirmed the B3(hyb) hybrid subordinated debt rating.

The upgrade reflects the view that the probability of the bank's deposits benefiting from the Russian central bank’s help should it be needed is now high. The upgrade follows the central bank’s announcement on Oct. 11 that it formally designated Tinkoff a systemically important financial institution, Moody’s said.

The outlook is positive.

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