Moody's reviews ratings of some Russia-based foreign bank subsidiaries for downgrade
MOSCOW. Feb 22 (Interfax) - Moody's Investors Service today has placed on review for downgrade the debt and deposit ratings of several major foreign bank subsidiaries in Russia, reflecting concerns regarding weakening capacity and/or willingness of parent banks to provide support to these subsidiaries, the agency said in a press release.
The affected banks are:
Banca Intesa (Russia) (subsidiary of Intesa Sanpaolo):
- Long-term- local and foreign currency deposit ratings of Baa3, placed on review for downgrade from negative outlook
- Short-term local and foreign currency deposit rating of Prime-3, placed on review for downgrade
- Standalone BFSR of D- (mapping to Ba3), stable outlook, unchanged
Natixis Bank (ZAO) (subsidiary of Natixis):
- Long-term local and foreign currency deposit rating of Ba2, placed on review for downgrade from stable outlook
- Standalone BFSR of E+ (mapping to B1), stable outlook, unchanged
ZAO Raiffeisenbank (subsidiary of Raiffeisen Bank International AG):
- Long-term local and foreign currency deposit rating of Baa3, placed on review for downgrade from positive outlook
- Local currency senior unsecured debt rating of Baa3, placed on review for downgrade from positive outlook
- Foreign currency senior unsecured debt rating of (P)Baa3, placed on review for downgrade from positive outlook
- Short-term local and foreign currency deposit rating of Prime-3, placed on review for downgrade
- Foreign currency senior unsecured debt rating of (P)Prime-3, placed on review for downgrade
- Foreign currency subordinated debt rating of (P)Ba1, placed on review for downgrade from positive outlook
- Standalone BFSR of D+ (mapping to Ba1), stable outlook, unchanged.
In all, Moody's has placed on review for downgrade the debt and deposit ratings of 21 bank subsidiaries located in Central and Eastern Europe (CEE) and Commonwealth of Independent States (CIS).
Moody's Interfax placed the national-scale ratings of Intesa, Natixis and Raiffeisen of "Aaa.ru", "Aa2.ru" and "Aaa.ru" on review for possible downgrade.
Raiffeisen was the 10th, Intesa - 56th and Natixis - 141st largest bank by assets, according to the Interfax-100 ranking at the end of 2011.
