S&P Global Ratings has upgraded Credit Bank of Moscow's stand-alone credit profile to 'bb'
13.10.2021
On 13 October 2021, S&P Global Ratings upgraded MKB's stand-alone credit profile (SACP) to "bb", and affirmed its issuer credit rating (ICR) at "BB", stable outlook. The agency also raised its long-term ICR on the bank's holding company Rossium to "B+".
The positive rating action reflects a more stable operating environment and the bank's consistent ability to cover all potential risks, retaining strong positions in terms of capitalisation and asset quality.
Analysts note that an upgrade of the sovereign rating may lead to a further positive rating action by assigning some notches of support from the state, as MKB is a systemically important bank. However, the bank's SACP of "bb" is now too high to add any additional notch of potential government support (the sovereign rating is "BBB-").