Moody’s raised the rating of PJSC ROSBANK to Baa3 with a stable forecast
- 24 May
On May 23, an international rating agency Moody’s Investor Service raised a basic credit ability assessment (BCA) of Rosbank from ba3 to ba2, a corrected basic credit ability assessment from ba1 to baa3, deposit ratings to Baa3 / Prime-3 with Ba1 / Not-Prime, counterpart risk rating (CRR) to Baa2 / Prime-2 with Baa3 / Prime-3 as well as the rating of senior unsecured loans and a rating of senior unsecured bank credit lines from Ba1 to Baa3. At the same time, Moody’s raised counterpart risk (CR) assessment to Baa2 (cr) / Prime-2 from Baa3 (cr) / Prime-3. The forecast for long-term debt and deposit ratings remained “stable”.
The raise of ratings can be explained by the improvement of profitability rate and asset quality as well as the financing structure thanks to a less dependence from market funding sources. Moreover, a high probability of a support from Societe Generale Group, a major stakeholder of the bank, can be observed as well.
Find out more information in a press release, published on Moody’s Investors Service website.