Moody's Investors Service has assigned to JSB Orgresbank ratings of Long-term and Short-term Foreign and Local Currency Deposits of B1 and NP respectively, as well as Financial Strength Rating (FSR) of E+. At the same time Moody's Interfax Rating Agency assigned to the Bank Long-term National Scale Credit Rating of A1.ru. B1/A1.ru are subject to review for a potential upgrade, FSR is Stable Outlook.
Moody's notes that B1 Rating of Long-term and Short-term Foreign and Local Currency Deposits was assigned considering the potential external support by Nordea Bank, which has recently signed an agreement to acquire a 75.01 per cent holding in JSB Orgresbank. As the deal has to be approved by the relevant regulatory authorities and the completion is expected in the end of Quarter1 2007, JSB Orgresbank’s B1/A1.ru ratings reflect limited external support only.
JSB Orgresbank’s FSR of E+ (Stable Outlook), which is the Bank’s own financial reliability indicator, reflects JSB Orgresbank’s sound financial results, e.g. rather high asset quality and stable liquidity, as well as its strong leading position in the Inter-bank Clearing System (Non-commercial Partnership), linking more than 200 Russian banks. For more detailed information please see www.moodys.com.