Moody’s revises Bank Saint-Petersburg view

Moody's Investors Service said it changed to positive from stable the outlook on the B1 long-term foreign currency deposit rating of Bank Saint-Petersburg PJSC and affirmed the rating.

The agency affirmed the bank’s baseline credit assessment and adjusted baseline credit assessment of b1, its long-term and short-term local and foreign currency counterparty risk ratings of Ba3/Not Prime, as well as its Not Prime short-term foreign currency deposit rating.

The long-term and short-term counterparty risk assessments of Ba3(cr)/Not Prime(cr) were also affirmed.

Moody’s said the change of outlook reflects improving trends in the bank's asset quality and profitability, coupled with its relatively good capital buffer.

The action is also underpinned by the bank's stable funding and liquidity profiles, the agency said.

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