Moody's boosts nine Russia banks

Moody's Investors Service said it upgraded the global scale long- and short-term foreign currency deposit ratings of nine banks in Russia.

The banks' outstanding senior and subordinated foreign currency debt ratings have also been upgraded, the agency said. The outlook is stable.

At the same time, Moody's Interfax Rating Agency said it affirmed the Aaa(ru) national-scale ratings of Russian Bank for Development, KMB-Bank, Gazprombank, ZAO Raiffeisenbank Austria and Russian Agricultural Bank.

This rating action follows Moody's recent decision to upgrade the Russian Federation's foreign currency bank deposit ceilings to Baa2/Prime-2 from Ba1/Not-Prime and applies to the deposit ratings that were constrained by the country ceilings and reflects the reduced foreign currency transfer risk as captured by the new ceilings.

Affected ratings include Sberbank's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime; foreign currency debt rating of senior unsecured debt upgraded to A2 from Baa2; foreign currency debt rating of subordinated loan participation notes upgraded to A3 from Baa2;

Vneshtorgbank's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime; foreign currency debt rating of notes of all series of dollar-denominated debt issuance program of VTB Capital SA upgraded to A2 from Baa2; foreign currency debt rating of subordinated loan participation notes issued by VTB Capital SA upgraded to A3 from Baa2;

Gazprombank's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime; foreign currency debt rating of loan participation notes issued by GPB Eurobond Finance plc upgraded to Baa1 from Baa2; EMTN Programme of Gazinvest Finance B.V. and medium-term notes issued by Gazinvest Luxembourg SA upgraded to Baa1 from Baa2;

JSCB Bank of Moscow's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime; foreign currency debt rating of all issues by Kuznetski Capital SA upgraded to Baa1 from Baa2;

Russian Bank for Development's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime; foreign currency debt rating of loan participation notes issued by RBD Capital SA upgraded to Baa2 from Baa3;

Vnesheconombank's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime;

Russian Agricultural Bank's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime;

KMB-Bank's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime;

ZAO Raiffeisenbank Austria's long- and short-term foreign currency deposit ratings upgraded to Baa2/Prime-2 from Ba1/Not Prime.

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