Moody's downgrades Vneshprombank to C from Caa3; will withdraw ratings
January 26, 2016
Moody's Investors Service has today downgraded Vneshprombank's long-term global, local and foreign currency deposit and senior unsecured debt ratings to C from Caa3. Moody's also affirmed the bank's Not-Prime short-term local and foreign currency deposit ratings.
Concurrently, Moody's downgraded the bank's baseline credit assessment (BCA) and adjusted BCA to c from ca and the bank's long-term Counterparty Risk Assessment (CR Assessment) to C(cr) from Caa2(cr). The rating agency also affirmed the bank's short-term CR Assessment of Not-Prime(cr).
Company — Vneshprombank
Full nameForeign Economic Industrial Bank