Moody's Investors Service has today withdrawn UniBank Commercial Bank's ratings, including long-term local and foreign-currency deposit rating of B3 and short-term local and foreign-currency ratings of Not-Prime. Moody's has also withdrawn bank's baseline credit assessment (BCA) and adjusted BCA of b3 and counterparty risk assessments of B2(cr)/Not-Prime(cr). Before the withdrawal, the outlook on the bank's long-term deposit ratings was negative.
Moody's has withdrawn the ratings because it believes it has insufficient or otherwise inadequate information to support the maintenance of the ratings. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com.
Headquartered in Baku, Azerbaijan, UniBank Commercial Bank reported total assets of AZN 727.6 million as of 1 October 2016, according to local financials.
For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity. Exceptions to this approach exist for the following disclosures, if applicable to jurisdiction: Ancillary Services, Disclosure to rated entity, Disclosure from rated entity.
Moody's considers a rated entity or its agent(s) to be participating when it maintains an overall relationship with Moody's. On this basis, the rated entity or its agent(s) is considered to be a participating entity. The rated entity or its agent(s) generally provides Moody's with information for the purposes of its ratings process.
Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review.
UNIBANK is one of the biggest private banks of Azerbaijan. The paid-up charter capital of the Bank equals USD 7.55 mln at the moment, while the consolidated capital of the Bank exceeds USD 15 11 mln ...