Moody's lifts TransCreditBank view to stable

Moody's Investors Service said it changed the outlook on the D- bank financial strength rating, Ba1 long-term global foreign-currency deposit rating and Ba1 senior unsecured debt ratings of TransCreditBank to stable from negative. The bank is controlled by state-owned monopoly, Russian Railways.

The outlook revision reflects stabilization in the asset quality of the bank, adequate provisioning against problem loans and increased capitalization levels, the agency said.

The ratings consider an expectation that the relationship between the bank and Russian Railways is unlikely to change materially in the next 18 months, Moody's said.

The ratings remain constrained by some uncertainty regarding this relationship in the longer term, given Russian Railway's stated desire to decrease its ownership position in TransCreditBank, the agency added.

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