Moody's rates Locko-bank B2

Moody's Investors Service said it assigned global-scale ratings with stable outlook to Locko-bank, including B2 long-term and short-term foreign- and local-currency deposit ratings and an E+ financial strength rating, along with an A3.ru long-term national-scale credit rating.

Moody's said the ratings reflect the bank's global default and loss expectation and its credit quality relative to its domestic peers. Other positive rating drivers are the bank's established relationships with international financial institutions, its strong capitalization indicators and an historically low level of credit losses, Moody's said it said.

The ratings are constrained by the challenges posed by the operating and regulatory environment in Russia, the bank's limited franchise, a single-party concentration in the loan portfolio and the bank's growing reliance on market sources of funding, Moody's said it added.

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