Moody’s assigns new ratings to NORVIK BANKA
OREANDA-NEWS. On July 02, 2007 Moody’s Investors Service has assigned new ratings to JSC “NORVIK BANKA”: a D- bank financial strength rating (BFSR), which translates into a baseline credit assessment of Ba3; a long-term deposit rating of Ba3 and short-term deposit rating of Not-Prime. The outlook on all ratings is stable, reported the press-centre of JSC “NORVIK BANKA”.
According to Moody's, the main elements underpinning the D- BFSR are the bank's good asset quality and capital adequacy as well as its new strategic shareholders' commitment to date to increase the capital base in step with the growth of the business. Looking ahead, Moody's believes that a rating upgrade could potentially be prompted by an improvement in its liquidity and funding profile, a reduction in high borrower concentration risk and changes to the corporate governance structure that provide a better separation of risk management from business development.