Moody’s acts on Russian financials

Moody's Investors Service said it affirmed the ratings, baseline credit assessments, adjusted baseline credit assessments, standalone credit profiles and counterparty risk assessments of financial institutions domiciled in Russia.

The agency also changed the outlook on the local and foreign-currency long term issuer and senior unsecured debt ratings, and local-currency deposit ratings to positive from stable.

The affected entities include Sberbank, Bank VTB, JSC, Vnesheconombank, Eximbank of Russia, Agency for Housing Mortgage Lending JSC, Russian Agricultural Bank, Gazprombank, PJSC State Transport Leasing Co. and GTLK Europe DAC.

Concurrently, Moody's upgraded DeltaCredit Bank's backed senior secured local currency bond rating to Baa2 from Baa3 with stable outlook following the revision of Russia's local currency bond ceiling to Baa2 from Baa3.

The agency said the change in the outlook on Russia's Ba1 government bond rating to positive from stable led to corresponding changes in the outlooks on the local currency deposit, debt, issuer and corporate family ratings of Russian financial institutions whose ratings benefit from potential support from the Russian government.

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