Research Update: Russia-Based MDM Bank Upgraded To 'BB-' On Bank Criteria Change; Outlook Stable Dec 11
- ID: 2030769
- December 2011
- Standard & Poors
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: New Rating
Action: Outlook: Stable
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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