Rating agency Expert RA has bestowed a B++ creditworthiness rating (acceptable creditworthiness) on Moscow Neftechemical Bank, the agency’s press service reported Tuesday.
“The acceptable capital adequacy ratio (20% as of January 1, 2009) was recognized as a primary factor of a positive impact on the lender’s creditworthiness. Also, other positive factors include modest loans overdue and adequate strategic support. The high level of collaterals under loans granted to both corporate clients and households had a positive influence on the rating. The high level of coverage for off-balance credit obligations by high-liquidity assets is typical for the lender," a press release said.
The press service pointed out that the rating was depressed by the high level of debts extended. “Also the absence of the bank’s public credit history and the imbalanced structure of assets and liabilities in terms of maturity are constraints," the rating agency added.
According to the data from Banki.ru and news agency Interfax-CEA, as of January 1, 2009 net assets of Moscow Neftechemical Bank stood at Rub 2.90 bln (377th place in Russia). The lending institution is a member of the national deposit insurance system.
