Moody's rates KIT Finance B2

Moody's Investors Service said it assigned to KIT Finance Investment Bank a B2 long-term and not-prime short-term foreign-currency and local-currency deposit ratings, E+ bank financial strength rating and an A3.ru long-term national scale rating.

The outlook is stable.

The ratings reflect the bank's growing diversification, which provides for a degree of stability of earnings, good and proactive management, adequate asset quality, good profitability and a sufficient capital level, the agency said.

The rating is constrained by the bank's high risk appetite, concentrated business and earnings, the bank's concentration of its business on the upper-tier Russian corporate franchise and an aggressive liquidity and funding approach, Moody's said.

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