S&P rates Bank of Moscow BBB/A-2

Standard & Poor's said it assigned its BBB/A-2 long- and short-term counterparty credit ratings and its ruAAA Russia national scale rating to Bank of Moscow OJSC.

The outlook is stable.

S&P said it bases the ratings on Bank of Moscow on its status as a "core" subsidiary of VTB Bank JSC (BBB/stable/A-2; Russia national scale ruAAA), since VTB owns 95.5% of Bank of Moscow, which is an integral part of VTB's franchise in Russia. The agency therefore equalizes the ratings on Bank of Moscow with those on VTB.

The stand-alone credit profile is b+ and reflects the bb anchor for a commercial bank operating only in Russia, and the bank's "adequate" business position, "adequate" capital and earnings, "weak" risk position, "average" funding and "adequate" liquidity, as criteria define the terms.

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