Moody’s downgraded the rating Vneshprombank to “C” with “Saa3”

LONDON, January 25. International rating Agency Moody’s downgrades long-term ratings for deposits in foreign and national currency of the Russian Vneshprombank to “C” with “Saa3” and drop them in connection with the revocation by the Central Bank of Russia of the license of the Russian Bank. This was reported in the press release of the Agency.

“The downgrade reflects the Agency’s expectations that the creditors of Vneshprombank will suffer heavy losses in connection with its liquidation, considering the low quality of Bank assets and a lack of capital”, – stated in the message.

The Bank of Russia on January 21, withdrew the license at Vneshprombank. Prior to that, the slider on 22 December enacted a moratorium for a period of three months on satisfaction of requirements of creditors of Vneshprombank that is insured. Measures in connection with dissatisfaction of requirements of creditors under liabilities within the terms exceeding seven days after the date of satisfaction.