MOODY’S Raises Ratings for Seven Russian Banks Under New Methodology

MOODY’S INVESTORS SERVICE has reported rating upgrades for seven Russian banks after revising its risk valuation procedure. SBERBANK and VNESHTORGBANK’s long-term subordinated foreign currency debt ratings have been upgraded from ’A3’ to ’A2’. The long-term senior unsecured foreign currency debt ratings for BANK OF MOSCOW (KUZNETSKI CAPITAL S. A.), GAZPROMBANK (GAZINVEST FINANCE B. V. and GAZINVEST LUXEMBOURG S. A.) and ROSSELKHOZBANK (RSHB CAPITAL S. A.) have been raised from ’Baa1’ to ’A3’. The ratings for PROMSTROIBANK (OR-ICB S. A.) and IMPEXBANK have been raised from ’A3’ to ’A2’. The PROMSTROIBANK’s long-term subordinated foreign currency debt rating was raised from ’Baa1’ to ’A3’.

Source: VEDOMOSTI, May 29, 2006