Moody's withdraws Russian Promsvyazbank's ratings
Date
2/25/2022 2:14:09 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, Feb.25
By Leman Zeynalova – Trend:
Moody's Investors Service has withdrawn the ratings of Russian
Promsvyazbank, Trend reports with reference to Moody's.
Reportedly, the withdrawn ratings are: Long-term bank Deposit
Ratings of Ba2; Short-term Bank Deposit Ratings of Not Prime;
Senior Unsecured Medium-Term Note Program rating of (P)Ba2;
Long-term Counterparty Risk Ratings of Ba1; Short-term Counterparty
Risk Ratings of Not Prime; Long-term Counterparty Risk Assessment
of Ba1(cr); Short-term Counterparty Risk Assessment of Not
Prime(cr); Baseline Credit Assessment of b3 and Adjusted Baseline
Credit Assessment of b3.
At the time of the withdrawal, the bank's long-term deposit
ratings carried a positive outlook and the bank's issuer outlook
was also positive. Moody's has decided to withdraw the ratings for
its own business reasons.
Promsvyazbank is a state-backed, formerly private Russian bank
from Moscow. In 2018, the Russian government nationalized the bank
and prosecuted its former owners. Promsvayzbank was officially
designated as a supporting bank of the Russian defense sector.
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