Moody's upgrades Bank Uralsky

Moody's Investors Service said it upgraded Bank Uralsky Financial House's baseline credit assessment and adjusted baseline credit assessment to B2 from B3, long-term local- and foreign-currency deposit ratings to B2 from B3, long-term counterparty risk assessment to B1(cr) from B2(cr) and long-term counterparty risk ratings to B1 from B2.

The outlook was changed to stable from positive.

The baseline credit upgrade reflects recent improvements in the bank's financial performance, especially its net financial result and capital adequacy, Moody's explained.

This is expected to remain strong and sustained in the long term, the agency added.

The ratings also reflects the bank's strengthened capital buffers with further improvement expected next year due to internal capital generation amid modest loan book expansion, Moody's said.

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