Russian rating agency AK&M has affirmed its national scale credit rating of B++ on Moscow-based Tempbank, raising the rating sublevel from 3 to 2. As the agency specified in a press release, this rating level means that the bank "is referred to the class of borrowers with the satisfactory creditworthiness level. The risk associated with the untimely fulfillment of the obligations is moderate, the likelihood of debt restructuring or partial debt restructuring is low". The rating carries a stable outlook.
Key factors supporting the bank's credit rating are its balance sheet indicators, capital growth and profitability, AK&M said in a press release.
Factors constraining the rating are high NPLs, the deteriorating credit portfolio quality and insufficient provisions.
