OREANDA-NEWS. 'Expert RA' rating agency downgraded 'Volgo-Kamsky Bank' creditworthiness rating to С+, which means very low credit solvency, the rating outlook is developing. In this case, the developing outlook means equal probability of changing and maintaining the rating in the mid-term. The Bank used to have rating B++, which means acceptable credit solvency, with the developing outlook.

Suspension by 'Volgo-Kamsky' bank of a significant portion of transactions early in November 2013, a major hindrance to timely and fully perform obligations to lenders, was the key factor for downgrading the rating. In addition, low capital adequacy and poor financials for 9M2013 persisted exerting pressure on the rating.