Moody's may lift Russian banks' foreign currency deposit ratings

Moody's Investors Service said it placed on review for possible upgrade the long- and short-term foreign currency deposit ratings of nine banks in Russia.

The banks' outstanding senior and subordinated foreign currency debt ratings were also placed on review for possible upgrade, the agency said.

At the same time, Moody's said its Interfax Rating Agency upgraded the long-term national-scale credit ratings of Russian Bank for Development to Aaa(ru) from Aa1(ru) and KMB-Bank to Aaa(ru) from Aa3(ru) and confirmed those of Gazprombank, ZAO Raiffeisenbank Austria and Russian Agricultural Bank at the level of Aaa(ru).

This rating action follows the recent announcement by Moody's placing on review for possible upgrade the Russian Federation's Ba1 foreign currency bank deposit ceiling.

The following ratings have been affected: Sberbank, Ba1/NP long- and short-term foreign currency deposit ratings, Baa2 foreign currency debt rating of senior unsecured euronotes, Baa2 foreign currency debt rating of subordinated loan participation notes; Vneshtorgbank, Ba1/NP long- and short-term foreign currency deposit ratings, Baa2 foreign currency debt rating of notes of all series of its debt issuance program of VTB Capital SA; Baa2 foreign currency debt rating of subordinated loan participation notes issued by VTB Capital SA;

Gazprombank, Ba1/NP long- and short-term foreign currency deposit ratings, Baa2 foreign currency debt rating of loan participation notes to be issued by GPB Eurobond Finance Plc., EMTN Program of Gazinvest Finance BV and medium-term notes issued by Gazinvest Luxemburg SA; JSCB Bank of Moscow, Ba1/NP long- and short-term foreign currency deposit ratings, Baa2 foreign currency debt rating of all issues by Kuznetski Capital SA; Russian Bank for Development, Ba1/NP long- and short-term foreign currency deposit ratings, Baa3 foreign currency debt rating of loan participation notes issued by RBD Capital SA;

Vnesheconombank, Ba1/NP long- and short-term foreign currency deposit ratings; Russian Agricultural Bank, Ba1/NP long- and short-term foreign currency deposit ratings; KMB-Bank, Ba1/NP long- and short-term foreign currency deposit ratings; ZAO Raiffeisenbank Austria, Ba1/NP long- and short-term foreign currency deposit ratings.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.