OREANDA-NEWS. RAEX Rating Agency (Expert RA) downgraded ITB BANK credit rating to C++, which means “Very low level of creditworthiness (pre-default)”. The rating outlook was changed to “negative”. The “supervised” rating status was removed. Earlier the Bank had rating B++ (“Satisfactory level of creditworthiness”) and “developing” outlook.

Review of the rating level is associated with increased exposure of the Bank to regulatory risks in the context of low capital adequacy, non-optimal structure of the resource base and active granting loans to shady corporate borrowers.

As key positive factors the Agency highlights low concentration of active transactions with regard to major credit risk objects and good balance of assets and liabilities by their maturities in the short-term and mid-term.