Moody's withdraws ratings of Bank of Moscow's Belarusian subsidiary

• 12.04.2012, 11:42

Moody's Investors Service has withdrawn ratings of the Bank Moscow-Minsk.

The following ratings were withdrawn: E+ standalone Bank Financial Strength Rating (BFSR); B3 long-term local currency deposit rating, Caa1 foreign-currency deposit rating; and Not-Prime short-term local and foreign currency deposits ratings. Moody's has withdrawn the rating for its own business reasons, RBK reports.

Bank Moscow-Minsk is a subsidiary of the Bank of Moscow (Russia). The bank is under factual control of the VTB Group, which owns 94,8% of shares in the Bank of Moscow.

Belarus was reported in early 2012 to have plans to buy the Bank Moscow-Minsk from the VTB Group.