Moody’s eyes Russian issuers for cut

Moody’s Investors Service said it is placed the ratings for Russian financial institutions on review for downgrade. The decision follows the opening of a review on Russia’s Baa3 sovereign rating on Friday.

“The review for downgrade reflects downside credit risks stemming from recent sanctions and the potential for additional, more severe sanctions affecting Russia's economy and its financial institutions,” the agency said in a press release.

The institutions are: JSC Dom.RF, Sberbank, Gazprombank, Russian Agricultural Bank, Alfa-Bank, Credit Bank of Moscow, Tinkoff Bank and Bank Zenit PJSC.

Moody’s said it will consider the effect of any sanctions that could be imposed on Russia or its financial institutions.

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