Moody’s revokes ratings of Russia’s MDM Bank

MOSCOW, Jun 1 (PRIME) -- International rating agency Moody’s has recalled long-term deposit ratings of Russia’s MDM Bank, the country’s 23d by assets, in national and foreign currencies, the agency said in a research note on Monday.

The MDM Bank’s ratings had a negative outlook. Moody’s revoked ratings for reasons related to agency’s business, it said.

The bank is rated by Standard & Poor’s (S&P) and Russia’s National Rating Agency.

MDM Bank’s net profit stood at 521 million rubles in 2014 against a 13.3 billion ruble net loss in 2013, as calculated under International Financial Reporting Standards (IFRS).

(52.9716 rubles – U.S. $1)

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