July 06, 2011 |
|London, 06 July 2011 -- London, -- Moody's Investors Service has today|
withdrawn the following ratings of Bank Societe Generale Vostok (BSGV):
(i) the Baa2/Prime-2 local and foreign currency deposit ratings; and (ii)
the D standalone bank financial strength rating (BFSR). At the time of
withdrawal, BSGV's long-term deposit ratings and BFSR had stable outlooks.
Moody's decision to withdraw BSGV's ratings follows the completion of the
legal merger of BSGV into Rosbank on 01 July 2011, whereby BSGV ceased to
exist as a separate entity. The rating agency understands that the merged
Rosbank has assumed all the obligations of BSGV.
PREVIOUS RATING ACTIONS
Please see ratings tab on the issuer/entity page on Moodys.com for the last
rating action and the rating history.
Headquartered in Moscow, Russia, BSGV reported -- under audited IFRS --
total assets of USD4.5 billion and total equity of USD441 million as at
31 December 2010. Over the same period, the bank recorded a net IFRS loss of
|Full company name||Joint-Stock company "Banque Societe Generale Vostok"|
|Country of risk||Russia|