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Monday, October 23, 2017

Bank of Saint Petersburg sees downgrades from Moody's

The Bank of Saint Petersburg announced a downgrade from Moody's Investors Service on Friday.

The bank received downgrades in long-term foreign currency deposits to B1, which indicates that the bank has speculative elements and poses a risk to credit. Long-term foreign currency subordinated debt received a B2 rating.

The bank also suffered a downgrade in its standalone bank financial strength rating (BFSR), that fell to an E+ from a D-, and in long-term foreign currency debt in senior unsecured medium-term note programs and subordinate medium-term note programs to B1 and B2 respectively.

With these changes comes a negative outlook in long-term global ratings with the exception of the BFSR, which has a stable outlook according to the ratings agency.

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Bank of Moscow - Russia

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