OREANDA-NEWS. Moody’s Interfax upgraded CREDIT BANK OF MOSCOW’s national scale rating from “A2.ru” to “A1.ru”. At the same time, Moody’s Investors Service affirmed the Bank’s international scale ratings: financial strength rating (FSR) “E+” and local and foreign currency deposit rating “B1/NP” with stable outlook.

Rating-positive factors for the Bank as highlighted by the agency include strong capital adequacy, good profitability and decreasing credit risk concentration. Moody’s also notes that the Bank’s operations have become more transparent with institutional investors joining the ranks of its shareholders. However, the Bank’s international scale rating is restrained by the agency’s concerns over the Bank’s rapid growth in the last years, albeit the agency acknowledges the emerging trend towards lower growth rates.

The Bank’s ratings may be upgraded if its asset quality, profitability and capitalisation are maintained at the current level while its loan portfolio expansion is moderated and its risk structure is further diversified. “ Upgrade of the Bank’s national scale rating is certainly a positive development bringing us closer to the likelihood of more substantial changes going forward, i.e. upgrade of our international ratings by Moody’s. Given our history of both fast and quality growth based on the Bank’s unique business model focused on strict credit risk control, we are optimistic about further positive rating actions of the agency, ”

– said Vladimir Chubar, Chairman of the Management Board of CREDIT BANK OF MOSCOW.

CREDIT BANK OF MOSCOW is also rated by Fitch Ratings and Standard and Poor’s. Fitch Ratings assigned to the Bank the long-term issuer default rating “BB-”, short-term issuer default rating “B”, support rating “5”, viability rating “bb-” and long-term national scale rating “A+(rus)”. The outlook is “Stable”. S&P assigned to the Bank the long-term credit rating “B+” and short-term credit rating “B” (the outlook is “Positive”), and national scale rating “ruA+” (the outlook is “Stable”).