Moody’s revises 14 Russian financials to stable

Moody's Investors Service said it affirmed the ratings of the following 14 financial institutions domiciled in Russia and changed the outlooks on those ratings to stable from negative: Sberbank; Bank VTB, JSC; VTB24; Bank of Moscow; Vnesheconombank; Eximbank of Russia; Agency for Housing Mortgage Lending JSC; Russian Agricultural Bank; Gazprombank; Alfa-Bank; State Transport Leasing Co. PJSC; GTLK Europe Ltd.; ING Bank Eurasia; and Natixis Bank JSC.

The action follows the agency’s Feb. 17 change of outlook on Russia's Ba1 sovereign debt rating to stable from negative.

Concurrently, Moody's upgraded the baseline credit assessment (BCA) and Adjusted BCA of Sberbank to ba1 from ba2, and upgraded the bank's long-term and short-term counterparty risk assessments to Baa3(cr)/Prime-3(cr) from Ba1(cr)/Not-Prime(cr).

The agency also assigned a Not-Prime short-term local currency deposit rating to Gazprombank.

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