OREANDA-NEWS. RusRating has lowered the credit ratings assigned to AKB ProbusinessBank (OAO) and its 07 bond series from “CCC” to "D" on the international scale and from "B-" to “C” on the national scale, subsequently cancelling the ratings.

The rating cut and cancellation reflect a decision taken by the Central Bank of Russia on 12 August 2015 to withdraw ProbusinessBank’s banking license in response to its failure to uphold federal laws governing banking activity and CBR regulatory requirements, as well as a decline in all capital adequacy measures to less than 2% and a drop in the absolute value of own funds below the minimal threshold in place on the date of the Bank’s registration (due to the cost of additional reserve formation).