Moody's ups Rosdorbank

Moody's Investors Service said it upgraded Rosdorbank's national scale rating to Baa2.ru from Baa3.ru and rated its long-term and short-term local-currency deposit ratings of B3 and not-prime, respectively, which are the same level as the bank's long-term and short-term foreign-currency deposit ratings.

The outlook is stable.

This upgrade reflects Rosdorbank's good capitalization, Moody's said.

The action also takes into account a consistent decline of the volume of the bank's related-party business in recent years, the agency said.

Factors that constrain the ratings include the bank's narrow franchise and high concentration of loan portfolio and customer funding base, Moody's said.

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