Moody’s changes SME Bank to stable

Moody's Investors Service said it changed the outlook on Ba2 long-term local- and foreign currency deposit ratings of SME Bank (Russia) to stable from negative.

The outlook on the bank's Ba2 local-currency senior unsecured debt rating was also changed to stable from negative.

Concurrently, the agency affirmed the baseline credit assessment (BCA) and adjusted BCA of b2, the Not Prime short-term foreign-currency deposit rating, as well as the long-term and short-term counterparty risk assessments of Ba1(cr)/Not-Prime(cr).

Moody’s said the outlook change reflects its expectation that the bank's asset quality and profitability metrics will stabilize during 2018, with any further negative pressure, should it occur, being limited and offset by the bank's ample capital adequacy buffer.

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