Fitch Ratings affirmed Asian-Pacific Bank’s ratings

On December 29, 2014 international rating agency Fitch Ratings affirmed ‘B+’ long-term foreign and local currency issuer default rating (IDR), ‘B’ short-term foreign currency IDR, ‘A-(rus)’ national long-term rating, ‘b+’ viability rating, ‘5’ support rating and ‘NF’ support rating floor to Asian-Pacific Bank. The outlook is negative. Fitch Ratings also assigned senior unsecured debt rating at ‘B+’/A-(rus)’ and recovery rating ‘RR4’.

The rating actions were driven by Fitch’s expectations over asset quality, capitalisation and liquidity deterioration with respect to the weakening Russian operating environment and market stress.

“Affirmation of the Bank’s ratings under crisis situation in the economy and banking sector reflects ability of APB to withstand against adverse trend of external conjucture,” commented Mikhail Pavlov, Deputy Chairman of the Executive Board of Asian-Pacific Bank.

Asian-Pacific Bank also has the following credit ratings:

- long-term local and foreign-currency deposit ratings B2 by Moody`s, negative outlook

- standalone E+ bank financial strength rating (BFSR) and Not Prime short-term bank deposit ratings by Moody`s

- bank credit rating A+(I) - very high level of solvency, rating sublevel – I (the highest) by Expert RA, stable outlook.