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Moody's and MIRA withdraw credit ratings of National Bank Trust (Russia)

Moscow, May 20, 2011 -- Moody's Investors Service and Moody's Interfax
Rating Agency (MIRA) have today withdrawn all ratings of National Bank Trust
(NBT) for business reasons, following an official request from NBT.
At the time of withdrawal, NBT's ratings were as follows: long-term local
and foreign currency deposit ratings of Caa1 with negative outlook,
short-term local and foreign currency ratings of Not Prime, standalone Bank
Financial Strength Rating (BFSR) of E with stable outlook (the BFSR maps to
Caa1 on the long-term scale), and a Ba3.ru National Scale Rating
(NSR) with no specific outlook. Moscow-based Moody's Interfax Rating Agency
is majority-owned by Moody's, a leading global rating agency.

At the time of the withdrawal, the Caa1 ratings with negative outlook, and
the E BFSR reflected NBT's weak financial fundamentals and significant
probability of their further deterioration as a result of:
(i) continuing decline in capitalisation as a result of the bank's
loss-making performance and operations with shareholders; (ii) significant
pressure on asset quality; and (iii) vulnerable liquidity.

RATINGS RATIONALE

Moody's Investors Service has withdrawn the credit rating for its own
business reasons. Please refer to Moody's Investors Service's Withdrawal
Policy, which can be found on our website, www.moodys.com.

Moody's Interfax Rating Agency's National Scale Ratings (NSRs) are intended
as relative measures of creditworthiness among debt issues and issuers
within a country, enabling market participants to better differentiate
relative risks. NSRs differ from Moody's global scale ratings in that they
are not globally comparable with the full universe of Moody's rated
entities, but only with NSRs for other rated debt issues and issuers within
the same country. NSRs are designated by a ".nn" country modifier signifying
the relevant country, as in ".ru" for Russia. For further information on
Moody's approach to national scale ratings, please refer to Moody's Rating
Implementation Guidance published in August 2010 entitled "Mapping Moody's
National Scale Ratings to Global Scale Ratings."

ABOUT MOODY'S AND MOODY'S INTERFAX

Moody's Interfax Rating Agency (MIRA) specializes in credit risk analysis in
Russia. MIRA is controlled by Moody's Investors Service, a leading provider
of credit ratings, research and analysis covering debt instruments and
securities in the global capital markets. Moody's Investors Service is a
subsidiary of Moody's Corporation (NYSE: MCO).

Moody's most recent rating action on NBT was on 1 November 2010 when Moody's
affirmed the bank's Caa1/Not Prime/E/Ba3.ru ratings, with a negative outlook
on the long-term ratings.

Domiciled in Moscow, the Russian Federation, NBT reported -- as at 30 June
2010 -- total (unaudited) IFRS assets of USD4.4 billion and total equity of
USD356 million. The bank recorded a net IFRS loss of USD43 million for H1
2010.
Company — Bank Trust
  • Full name
    Bank "Trust"
  • Registration country
    Russia
  • Industry
    Banks