Moody's rates Agrobank

Moody's Investors Service said it assigned to SJSC Commercial Bank Agrobank a bank financial strength rating of E+, long-term and short-term local-currency deposit ratings of Ba3/not-prime and long-term and short-term foreign-currency deposit ratings of B2/not-prime.

The outlook is stable.

The ratings reflect the bank's high visibility in servicing agriculture clients in the Republic of Uzbekistan, its wide geographic national coverage, healthy capital adequacy levels and its diversified funding base, which benefits from access to facilities from international financial institutions, Moody's said.

The ratings are constrained by corporate governance and risk management issues, high single-name and industry concentration of the bank's assets and liabilities and the unseasoned nature of the bank's loan portfolio, the agency said.

© 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.