Moody's downgrades Tatfondbank's long-term ratings to C; will then subsequently withdraw all ratings

Moody's Investors Service has today downgraded Tatfondbank's long-term global, local and foreign-currency deposit and senior unsecured debt ratings to C from Caa1. The C ratings do not carry outlooks. At the same time, Moody's downgraded the bank's baseline credit assessment (BCA) and adjusted BCA to c from caa3. The rating agency also affirmed the bank's Not-Prime short-term local and foreign currency deposit ratings. Moody's also downgraded the bank's long-term Counterparty Risk Assessment (CR Assessment) to C(cr) from B3(cr) and affirmed the bank's short-term CR Assessment of Not-Prime(cr). Moody's will then subsequently withdraw all the bank's ratings following the withdrawal of its banking license by the Central Bank of Russia (CBR).

• Full name
  Public Joint Stock Company "Joint stock investment commersial Bank "Tatfondbank" PJSC "Tatfondbank"
• Registration country
  Russia
• Industry
  Banks