International rating agency Moody's Investors Service has withdrawn Pervobank's ratings, namely long-term local currency and foreign currency deposit ratings of B2, short-term ratings of Not Prime, BCA of b3, adjusted BCA of b2, long-term counterparty risk assessment of B1(cr) and short-term counterparty risk assessment of Not-Prime(cr). At the time of the withdrawal the bank's long-term deposit ratings carried a positive outlook, the agency said in a press release.
The bank's national scale rating of A3.ru was also withdrawn, Moody's said on its website.
On Tuesday, January 19, National Rating Agency also announced the withdrawal of Pervobank's ratings, and Fitch Ratings did the same in mid-December 2015.
A transaction was wrapped up in early November 2015 whereby a 86.54% stake in Pervobank went to Promsvyazbank's majority shareholder, Promsvyaz Capital B.V., and Pervobank shareholders got a 4.54% interest in Promsvyazbank. This year Pervobank should be folded into Promsvyazbank.
