Moody’s ups Aton Capital view to stable

Moody's Investors Service said it changed the outlook on the B2 local and foreign currency long-term issuer ratings of Aton Capital Group to stable from negative.

At the same time, the long-term issuer ratings and the Not-Prime local and foreign currency short-term issuer ratings were affirmed.

Moody’s said the action reflects its view that the company's business model has proven to be relatively resilient to pressures stemming from the challenging operating environment in Russia since 2014.

The stable outlook was prompted by: (a) Resilient profitability in 2014-15 despite a challenging operating environment and external shocks such as plummeted oil price, economy contraction, dramatic local currency depreciation and elevated interest rate environment; and (b) Moody's expectation that the depreciated rouble, along with the stabilization of economic conditions recently, should improve the company's revenues from private equity and investment banking businesses in 2016-17.

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