Moody's and Fitch demote Mezhprombank

21 June 2010 (09:23)

Mezhprombank’s deposit and debt ratings were demoted from B3 to B1 by Moody's recently; the bank’s financial stability rating has remained at its earlier level of E+.

The ratings were also placed on the CreditWatch list, as there is still a possibility of their further demotion given the bank’s weak liquidity status.

At the same time, Fitch demoted the long-term national and foreign currency Issuer Default Rating of Mezhprombank by three positions, that is, from B to CCC, and still keeps them on its Rating Watch with Negative rating outlook (RWN).

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