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Moody's upgrades and will withdraw DeltaCredit Bank's ratings following merger with PJSC ROSBANK

    11 June

Moody's Investors Service, ("Moody's") today upgraded the long-term and short-term deposit ratings of DeltaCredit Bank to Baa3/Prime-3 from Ba1/Not Prime, its counterparty risk ratings (CRRs) to Baa2/Prime-2 from Baa3/Prime-3, its senior unsecured debt rating and senior secured debt rating to Baa3 from Ba1. Concurrently, Moody's has upgraded DeltaCredit Bank's Counterparty Risk Assessment (CR Assessment) to Baa2(cr)/Prime-2(cr) from Baa3(cr)/Prime-3(cr). The outlook on the long-term deposits, senior unsecured and senior secured debts remains stable.

Following the completion of DeltaCredit's merger with its parent PJSC ROSBANK (Rosbank), the ratings of DeltaCredit have been aligned with those of Rosbank and will be withdrawn. The outlooks on the long-term deposit ratings as well as the overall entity will be withdrawn.

The merger took place on 1 June 2019, whereupon DeltaCredit Bank ceased to exist as a separate legal entity and its assets and liabilities were fully transferred to Rosbank.

More details about Moody’s rating activities regarding DeltaCredit can be found by the link.