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Moody’s ups VTB24 rating, shifts view to stable
Moody’s Investors Service said it upgraded the rating of senior secured local-currency debts originally issued by VTB24 to Baa3 from Ba1.
“The local-currency senior debt rating of notes issued by VTB24 is based on the fundamental credit quality of VTB24’s successor Bank VTB PJSC and does not consider the quality of the underlying collateral (the pool of mortgages). As a result, the rating of senior secured local-currency debts issued by VTB24 is aligned with Bank VTB PJSC’s senior unsecured local-currency debt rating,” said Moody’s in a press release.
The agency changed the outlook to stable from positive.
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