Moody's expects further pressure on Absolut Bank

6 July 2009 (11:01)

The international rating agency has recently changed AKB Absolut Bank’s D- financial stability rating’s Outlook from Stable to Negative. At the same time, the bank’s national and foreign currencies deposit rating and the Baa3/Prime-3 foreign currency debt rating’s Negative Outlooks were confirmed. So was the bank’s long-term national scale rating.

‘These rating actions have to do with Moody’s concern over the potential impact Russia’s long-term economic downfall might have on Absolut Bank’s asset quality and financial development indicators, which, in its turn, will probably exert most of the pressure on the bank’s capital,’ the agency reports.

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