Moodys Affirmed Russian Agricultural Bank Ratings
OREANDA-NEWS. January 27, 2011. Moody's Investors Service affirmed the following ratings of Russian Agricultural Bank: Bank financial strength rating (BFSR) – E+, long- and short-term foreign currency deposit ratings – Baa1/Prime-2, as well as the senior unsecured debt rating of Baa1 and the Bank's subordinated debt rating of Baa2. All these ratings carry a stable outlook. Moody's Interfax Rating Agency has affirmed the Aaa.ru long-term national scale credit rating of RusAg, reported the press-centre of Russian Agricultural Bank.
The ratings are supported by the Bank's developed franchise in the Russian agribusiness sector and its position as the fourth-largest bank in the country in terms of assets and capital.
The rating agency observes consistently strong capital ratios of the Bank, demonstrating the government's commitment to support RusAg which plays a key role in agribusiness of the Russian Federation. Ratings are based on Moody's assessment that the probability of support from the Russian government in the event of need is very high, as the state holds 100% of RusAg's issued and outstanding shares.