Russian rating agency RAEX (Expert RA) has affirmed its credit rating on Moscow-based Finprombnnk at B (low level of creditworthiness) and has withdrawn it due to the bank's refusal to be rated any longer, the agency said in a press release.
Before rating withdrawal the developing rating outlook was affirmed. The rating was removed from watch.
Earlier this week RAEX downgraded Finprombank's rating from B++ to B. Moreover, on Wednesday the National Rating Agency cut the lending institution's rating to BBB+ and moved it to the non-for-disclosure category.
