OREANDA-NEWS. December 23, 2009. Moody's Investors Service, an international rating agency, took rating action affecting Credit-Standard Bank (CSB), an open joint-stock commercial bank. In particular, the bank's long-term foreign currency deposit rating was upgraded to B2 from B3.

It should be reminded that in October 2008 Moody's assigned CSB B2/NP/B3/NP/E+ rating with "stable" outlook. In July 2009, the rating agency's credit committee session decided to confirm the bank's rating in 2009 at the level of the last year's indicator with "stable" outlook.

The E+ BFSR and B2/Not Prime long-term and short-term local currency deposit ratings remain unchanged; stable outlook is maintained on all of the ratings.

Moody's Investors Service was founded in 1900, and is one of the most respected and widely used sources of credit ratings, analytical researches and materials of risks analysis in the world. This information goes to more than 3,000 organizations and 20,000 subscribers all over the world.

Headquartered in Tashkent, Uzbekistan, Credit-Standard Bank reported total IFRS assets of 235 billion soums (US 169 million) and net income of 6.6 billion soums (US 4.7 million) as at 31 December 2008. The Banker British magazine named CSB "The best bank of the year in Uzbekistan 2006". Global Finance magazine named CSB "The best bank in Uzbekistan" twice in 2008 and 2009.