OREANDA-NEWS. Moody's Investors Service has assigned the following global scale ratings to OrgresBank: B1 long-term and Not-Prime (NP) short-term foreign and local currency deposit ratings and an E+ financial strength rating (FSR).

At the same time, Moscow-based Moody's Interfax Rating Agency which is majority-owned by Moody's has assigned an A1.ru long-term national scale credit rating (NSR) to the bank. OrgresBank's B1/A1.ru ratings are on review for possible upgrade, while the outlook on the bank's FSR is stable.

Moody's notes that the bank's B1 long-term deposit rating and A1.ru NSR factor in the possibility of external support from Nordea Bank AB (Nordea, rated Aa3/P-1/B for bank deposits/FSR with stable outlook), which has recently signed an agreement to purchase a 75.01 per cent stake in OrgresBank for USD 313.7 million (EUR 246 million).

The remaining 24.99 per cent will be split evenly between the current management shareholders of OrgresBank and the European Bank for Reconstruction and Development (EBRD).