Moody’s revises NS Bank to negative

Moody's Investors Service said it affirmed NS Bank's long-term local and foreign currency deposit ratings of B3 as well as the short-term local and foreign currency deposit ratings of Not-Prime.

At the same time, the agency affirmed the bank's baseline credit assessment and adjusted baseline credit assessment of b3, as well as the counterparty risk assessment of B2(cr)/Not-Prime (cr).

The outlook on the long-term deposit ratings was changed to negative from stable.

Moody's Interfax also affirmed NS Bank's national scale long-term deposit rating of Baa3.ru. The national scale rating carries no specific outlook.

"The ratings affirmation is driven by the bank's reportedly solid capital adequacy ratios and comfortable liquidity position," Moody’s assistant vice president Svetlana Pavlova said in a news release.

"The change of outlook to negative from stable reflects our expectations of negative pressure on asset quality and the weakening of the bank's recurring operating profitability."

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