| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for OJS Commercial Bank Rost Bank > News item |
S&P further downgrades Rost Bank
Standard & Poor's said it lowered its long-term counterparty credit, short-term counterparty credit and national-scale ratings on OJS Commercial Bank Rost Bank to R from CCC+, C and ruBB-, respectively.
The agency said the downgrade reflects the regulatory risk related to the Central Bank of Russia's (CBR) intervention and possible – though not certain – introduction of a moratorium on some of Rost Bank's credit obligations.
On Nov. 28, the Central Bank of Russia assigned the Deposit Insurance Agency (DIA) to be a temporary manager of Rost Bank and to develop a plan for its financial rehabilitation. It also suspended the authority of the bank's shareholders and managers.
S&P said it is not aware of any details of the rehabilitation plan, though it is possible that the regulator will prioritize some of the bank's credit obligations over others. The agency therefore lowered its ratings on Rost Bank to R, as per the criteria.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.