International rating agency Moody's has downgraded ratings of Russian subsidiaries of foreign banks.
At issue are Raiffeisenbank, Rosbank, DeltaCredit, ING Bank, Bank Intesa and Rusfinance Bank.
To remind, the day before Moody's downgraded ratings of seven largest Russian financial institutions, namely those of Sberbank, VTB Bank, Gazprombank, Rosselkhozbank, Vnesheconombank and the Agency for Housing Mortgage Lending (AHML).
For the record, on February 21, 2015 Moody`s downgraded Russia's sovereign credit rating to Ba1 from Baa3, naming as primary reasons behind this decision the aftermath of the Ukrainian crisis for Russia, a slump in oil product prices, and also ruble depreciation.