Moody's has placed all of RCB's long-term ratings (including its long-term deposit rating, B1) under review for possible downgrade, citing the increased risk associated with the bank's exposures to Russian companies in the wake of the sanctions taken by Western countries against Russia following the invasion of Ukraine.
In a rating action issued today, the agency downgraded its baseline credit assessment (BCA) and adjusted BCA to b3 from b2 and its long-term counterparty risk rating (CCR) to Ba3 from Ba2, putting these ratings on a downgrade path as well.
According to the agency, the downgrades of BCA and adjusted BCA reflect the weaker operating conditions in Russia.
CNA
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