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Research Update: Russia-Based MDM Bank Upgraded To 'BB-' On Bank Criteria Change; Outlook Stable Dec 11 Product Image

Research Update: Russia-Based MDM Bank Upgraded To 'BB-' On Bank Criteria Change; Outlook Stable Dec 11

  • ID: 2030769
  • December 2011
  • Standard & Poors

Abstract
Following a review of Russia-based MDM Bank under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our long-term rating on MDM Bank to 'BB-' from 'B+'. The 'B' short-term rating was affirmed. At the same time, we assigned an 'ruAA-' Russia national scale rating. The outlook is stable. Our ratings on MDM Bank reflect our 'bb' anchor for a commercial bank operating only in Russia, the bank's moderate business position, adequate capital and earnings, moderate risk position, average funding, and adequate liquidity. The counterparty credit rating is one notch higher than MDM's 'b+' stand-alone credit profile, reflecting our view of the moderate likelihood of extraordinary government support given the bank's moderate systemic importance in...

Companies mentioned in this report are: MDM Bank
Action: Affirmed
Action: New Rating
Action: Outlook: Stable
Action: Upgraded

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MDM Bank

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