Gazprombank's International Ratings Remain Unchanged
OREANDA-NEWS. The Bank's ratings from international agencies Fitch Ratings, Moody's and Standard & Poor's remain investment grade despite increasing macroeconomic and geopolitical risks. Moreover, currently Gazprombank's long-term foreign currency rating from Standard & Poor's is at the sovereign level.
According to the latest comments published by the agencies, the Bank has a stable funding base with domestic retail and customer deposits being the largest source of funding and is not dependent on international capital markets. The agencies consider the Bank's liquidity position to be sufficient to cover its international wholesale debt service obligations.
Fitch Ratings also underlined that they expect the high probability of support for Gazprombank from the Russian authorities, in case of need.