Moody's rates Akibank B3

Moody's Investors Service said it assigned to Akibank a B3 long-term and not-prime short-term local- and foreign-currency deposit ratings, E+ bank financial strength rating, and affirmed its Baa2.ru long-term national scale credit rating.

The outlook is stable.

The ratings reflect Akibank's global default and loss expectation, Moody's said, along with the standing of the bank's credit quality relative to its domestic peers.

The ratings are constrained by the bank's substantial volume of operations with related parties, vulnerable liquidity position and significant concentrations in the loan portfolio, the agency said.

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