Wednesday, April 8, 2009

Moody's rage

International rating agency Moody's Investors Service forecast worsened ratings of Russian banks, as well as AK Alrosa and Russian Railways, said the agency. Moody's changed the rating outlook of financial sustainability of the bank "Zenith" "D-" rating and long-term deposits in national and foreign currencies "Ba3" from "stable" to "negative." Outlook on the rating of senior unsecured debt of the bank "Ba3" is also changed to "negative" from "stable." All ratings affirmed at current levels. Moody's placed on revision with the possibility of downgrading the ratings of bank "St.-Petersburg". The revision relates to the long-term ratings for deposits and unsecured debt "Ba3", the rating on subordinated obligations of "B1", ranking the financial sustainability of "D minus." Not Prime short-term rating remains unchanged with stable outlook. The decision of the agency due to the potential impact of the economic downturn in Russia on the quality of bank's assets and its financial performance and, consequently, to its capital base. Moody's changed the rating outlook of financial sustainability of Nomos-bank "D-" rating and long-term deposits in national and foreign currencies "Ba3" from "stable" to "negative." Outlook on the rating of senior unsecured debt of the bank "Ba3" and the subordinated debt "B1" is also changed to "negative" from "stable." All ratings affirmed at current levels. Agency fears that the deteriorating economic conditions in Russia are likely to lead to the deterioration of key financial indicators of Nomos-bank. The Agency has changed the rating outlook finustoychivosti Bank Petrocommerce "" D-"rating and long-term deposits in national and foreign currencies" Ba3 "from" stable "to" negative. " Outlook on the rating of senior unsecured debt of the bank "Ba3" is also changed to "negative" from "stable." All ratings affirmed at current levels. In addition, Moody's lowered the corporate rating AK "Alrosa" with "Ва2" to "Ba3." It was also downgraded to "Ba3" from "Ва2" rating of senior unsecured notes of $ 500 million due 2014, issued by ALROSA Finance SA and guaranteed by ALROSA. Forecast rating - a "negative" and reflects Moody's concerns regarding the fact that the core business ALROSA highly susceptible to the negative effects of fluctuations in the price of diamonds, and sales volumes may decline against the backdrop of a serious further deterioration of the economic situation. Ratings of OAO Russian Railways (RZD) reduced the agency to "A3" to "Vaa1; prediction - a" negative ". Thus, Moody's completed its review of the rating companies, which began Jan. 21, 2009 in connection with the difficult market conditions faced by the Railways. Moody's, given the rating of the same factors that may affect the status of the Russian economy, no longer believes that it is appropriate to assign a rating RZhD higher rating than the Russian Federation "Vaa1.

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