04.07.2019

Rating agency Moody's upgrades Bank Saint-Petersburg’s deposit rating to Ba3, stable outlook

Rating agency Moody's upgrades Bank Saint-Petersburg’s deposit rating to Ba3, stable outlook

On July 04, 2019 Moody's Investors Service has upgraded to Ba3 from B1 the long-term foreign currency deposit rating of Bank Saint-Petersburg PJSC (BSPB) and changed the outlook on this rating to stable from positive.

Concurrently, Moody's upgraded the bank’s Baseline Credit Assessment (BCA) and adjusted BCA to ba3 from b1. Moody's has also upgraded BSPB’s long-term Counterparty Risk Assessment (CR Assessment) to Ba2(cr) from Ba3(cr) and upgraded the bank’s long-term local and foreign currency Counterparty Risk Ratings (CRR) to Ba2 from Ba3. BSPB’s Not Prime short-term foreign currency deposit rating, Not Prime(cr) short-term CR Assessment, as well as its Not Prime short-term local and foreign currency CRR were affirmed.

According to Moody’s, the ratings upgrade reflects the continuous improvement of BSPB’s asset quality and capital adequacy metrics, coupled with the sustainable good recurring profitability and stable funding and liquidity profiles.

The press release is available on the Agency website: https://www.moodys.com/research/Moodys-upgrades-Bank-Saint-Petersburgs-foreign-currency-deposit-rating-to--PR_404402

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