Moody's lifts Metcombank view to positive

Moody's Investors Service said it changed the outlook to positive from stable on the B3 long-term local- and foreign-currency deposit ratings of Metallurgical Commercial Bank (Metcombank).

The agency also said it affirmed the bank's B3/not-prime long-term and short-term bank deposit ratings with a stable outlook.

The agency also said it upgraded long-term national scale credit rating to Baa2.ru from Baa3.ru.

The outlook change is driven by continued diversification of Metcombank's business profile reflected in the increasing number of products and clients in its retail and SME portfolio, Moody's said, and improvements in its regional coverage.

Since 2009, Metcombank has been implementing its strategy related to diversification of its business, the agency added.

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