RAEX Confirms Promenergobank Credit Rating
OREANDA-NEWS. Expert RA Rating Agency (RAEX) confirmed Promenergobank credit rating A, which means "High level of creditworthiness", the first sub-level was downgraded to the second one. The rating outlook is "stable".
High level of capital adequacy and acceptable level of loan portfolio coverage were named the key factors having positive effect on the rating score of Promenergobank.
Besides, high concentration of credit risks on large borrowers, low diversification of the resource base by clients, high share of prolonged loans in the loan portfolio were highlighted among the rating-restraining factors. Expert RA is Russian rating agency working on a global scale, incorporated in 1997 by Expert magazine. Expert RA is a true market leader in ratings and survey-communication activity. Our purpose is to produce a new knowledge and transfer it to the society, business and authorities in an understandable way.
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