Moody’s reviews Expobank

Moody's Investors Service said it placed the B1 long-term deposit ratings, b1 baseline credit assessment (BCA) and adjusted BCA, and Ba3(cr) long-term counterparty risk assessment of AS Expobank (Latvia) on review for downgrade following the agency's March 4 decision to place Russia's sovereign ratings on review for downgrade.

The reduction of oil prices triggered a combination of fiscal pressure on the Russian government and eroding economic conditions in the country, which Moody's considers in Expobank's macro profile, as the majority of the bank's deposit base originates from Russia.

Expobank's NP short-term deposit rating and NP(cr) short-term CR Assessment are unaffected by this action.

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