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Article: RUSSIA: MOODY'S CHANGES OUTLOOK ON CREDIT BANK OF MOSCOW'S RATINGS TO NEGATIVE.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- June 21, 2009
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Moody's Investors Service has today changed the outlook on the B1 long-term global local and foreign currency deposit and senior unsecured debt ratings of Credit Bank of Moscow (CMB) to negative from stable and has affirmed all of the bank's global scale ratings. At the same time, Moody's Interfax Rating Agency has downgraded CMB's long-term national scale credit ratings to A2.ru from A1.ru. Moscow-based Moody's Interfax is majority owned by Moody's, a leading global rating agency. "The outlook change reflects Moody's concerns that the worsening economic conditions in Russia are likely to translate into a deterioration of CMB's financial fundamentals. In particular, ...