16:30 GMT08 April 2020
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    Moody’s Investors Service said that outlook on long-term debt and deposit ratings of Russia’s largest bank Sberbank has been changed from negative to stable to reflect the stabilization of the country’s economy.

    WASHINGTON (Sputnik) The outlook on long-term debt and deposit ratings of Russia’s largest bank Sberbank has been changed from negative to stable to reflect the stabilization of the country’s economy, Moody’s Investors Service said in a press release on Tuesday.

    “The change of the outlook to stable on the Russian government's Ba1 bond rating has led to the affirmation with a stable outlook of Sberbank's Ba1 long-term debt and local-currency (LC) deposit ratings and Ba2 foreign-currency deposit rating,” the release said.

    The rating agency expects the Russian government to support Sberbank, which plays a “key systematic role” in the country’s banking system, according to the release.

    As of October 2015, Sberbank has 25.9 trillion rubles in total assets.

    Moody’s noted that the likelihood of a further shock for the Russian economy in the next year has diminished.

    The agency has previously attributed Russia’s stabilization to a macroeconomic adjustment to offset the impact of low oil prices, and the "diminished likelihood" of future international sanctions or worsening conflict in eastern Ukraine.

    Related:

    Ratings of 12 Major Companies Reflects Russian Economic Recovery - Moody’s
    Moody’s Affirms Ratings of 17 Russian Regions, Municipalities
    Moody’s: Credit Rating on 18 Russian Non-Financial Organizations ‘Stable’
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    rating, Moody's, Sberbank, Russia
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