News

28.02.2017

Moody’s affirmed Rosbank’s, Rusfinance Bank and DeltaCredit ratings with stable outlook

On February 21, Moody’s Investors Service changed outlook on ratings of 18 financial institutions of Russia from negative to stable including Rosbank, Rusfinance Bank and DeltaCredit Bank. The rating action followed the change of outlook on Russia’ Ba1 sovereign rating to stable.

Moody's upgraded the baseline credit assessment (BCA) of Rusfinance Bank to ba3 from b1 and affirmed the bank's Adjusted BCA at ba1. The upgrade of the bank's BCA to ba3 is driven by RFB's increasingly close integration into SocGen Russia: this benefits the bank's liquidity and funding profile through access to group funding allocated via Rosbank, which acts as the asset-and-liability management center for SocGen Russia. The upgrade also takes into account a track record of the bank's sustainable performance amid challenging credit conditions in the Russian car finance market.

The BCAs and adjusted BCAs of Rosbank and DeltaCredit Bank affected by today's rating action were affirmed at ba3 and ba1, respectively. Moody’s has also affirmed the Ba1 long-term global local-currency debt and deposit ratings and Ba2 long-term foreign-currency deposit ratings of Societe Generale Group Russian subsidiaries. The rating agency has also affirmed all three banks' long-term Counterparty Risk Assessment (CR Assessment) of Baa3 (cr), short-term CR Assessment of Prime-3(cr) and short-term deposit ratings of Not Prime.

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