Expert RA Downgrades Smolensky Bank Creditworthiness Rating
OREANDA-NEWS. 'Expert RA' rating agency downgraded 'Smolensky Bank' creditworthiness rating to C++, which means 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 short-term. The Bank used to have rating A, which means high credit solvency. In October 2013, the outlook was revised, from developing to negative.
Suspension of the customer account servicing, which prevented the Bank from timely performance of its current obligations, was the reason for the rating downgrading. The Bank showed extremely low liquidity ratios in the context of its limited opportunities to raise additional liquidity.