Fitch: Bank of Moscow on watch

Fitch Ratings said it is maintaining Bank of Moscow's BBB- long-term issuer default rating on Rating Watch negative.

The watch reflects a view that risks remain regarding the bank's acquisition by JSC Bank VTB, the agency said.

But downgrade risk has been reduced as a result of the progress Bank VTB has made to acquire Bank of Moscow, the agency said. Bank VTB's ratings are unlikely to be affected by the acquisition, the agency said.

But Fitch said some uncertainty remains concerning the completion of the acquisition.

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