Moody's upgrades NOTA Bank

Moody's Investors Service said it upgraded NOTA Bank's long-term local- and foreign-currency deposit and senior unsecured local-currency debt ratings from B3 to B2.

Concurrently, the agency affirmed NOTA Bank's standalone E+ bank financial strength rating, which is now equivalent to a baseline credit assessment of b2 (formerly b3), and the bank's Not Prime short-term local- and foreign-currency deposit ratings.

All long-term ratings carry a stable outlook.

At the same time, Moody's Interfax Investors Service upgraded national scale rating of NOTA Bank from Baa2.ru to Baa1.ru. The NSRs carry no specific outlooks.

The upgrade of NOTA-Bank's deposit and debt ratings reflects its strengthened customer franchise, robust asset quality, and shareholders' regular capital injections.

Moody's said the rating action on NOTA-Bank reflects (a) strengthened customer franchise on both sides of the balance sheet; (b) its ability to sustain robust asset quality and a solid liquidity profile in the course of business expansion; and (c) regular capital injections from shareholders supporting bank's asset growth.

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