Moody's may cut Gazenergoprombank

Moody's Investors Service said it placed the Ba3 long-term local- and foreign-currency deposit ratings and Aa3.ru national-scale rating of Gazenergoprombank on review for possible downgrade. The bank's E+ bank financial strength rating was affirmed, along with its not-prime short-term deposit ratings.

The outlook was changed to stable from positive.

Subsidiary Sobinbank's B3 long-term local- and foreign-currency deposit ratings, E+ bank financial strength rating, not-prime short-term local- and foreign-currency deposit ratings and Baa2.ru national strength rating are unaffected. The outlook on Sobinbank remains stable.

The actions follow news of a merger of the bank and Bank Rossiya, Moody's said.

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