Fitch Ratings affirms CREDIT BANK OF MOSCOW’s ratings
On 19 October 2015, Fitch Ratings affirmed CREDIT BANK OF MOSCOW's credit ratings: long-term issuer default rating ("IDR") at "ВВ", viability rating at "bb", national long-term rating at "AA-(rus)", senior unsecured debt rating at "ВВ" and subordinated debt rating at "BB-". The agency also affirmed the short-term IDR at "B" and support rating at "5". The outlook is "Negative".
In the agency's view, the main supporting factors of the Bank's ratings are sustainable positions in the banking services market, stable financial condition and insignificant deterioration of asset quality in the current market situation, and comfortable liquidity level coupled with limited refinancing needs going forward. According to Fitch Ratings analysts, the negative rating outlook for the Bank reflects the current outlook of Russia's sovereign rating, and the potential risk that asset quality may deteriorate.
More detailed information about CREDIT BANK OF MOSCOW's rating affirmation can be found on Fitch Ratings' website: