ACRA withdraws the credit rating of ZIRAAT BANK (MOSCOW) (JSC) due to contract expiration

ACRA has withdrawn its credit rating BBB(RU), outlook Stable, previously assigned to ZIRAAT BANK (MOSCOW) (JSC). The rating has been withdrawn due to expiration of the contract between ACRA and ZIRAAT BANK (MOSCOW) (JSC). The rating has been withdrawn without its concurrent affirmation, as ACRA has no sufficient information on the financial status of ZIRAAT BANK (MOSCOW) (JSC).

Regulatory disclosure

The credit rating has been assigned under the national scale for the Russian Federation based on the Methodology for Credit Ratings Assignment to Banks and Bank Groups under the National Scale for the Russian Federation, the Methodology for Analyzing Relationships Between Rated Entities and Supporting Organizations outside the Russian Federation, and the Key Concepts Used by Analytical Credit Rating Agency within the Scope of Its Rating Activities.

The credit rating of ZIRAAT BANK (MOSCOW) (JSC) was first published by ACRA on December 5, 2018.

The assigned credit rating is based on the data provided by ZIRAAT BANK (MOSCOW) (JSC), information from publicly available sources, as well as ACRA’s own databases. The rating analysis was performed using IFRS consolidated statements of ZIRAAT BANK (MOSCOW) (JSC) and statements of ZIRAAT BANK (MOSCOW) (JSC) composed in compliance with the Bank of Russia Ordinance No. 4212-U dated November 24, 2016. The credit rating is solicited, and ZIRAAT BANK (MOSCOW) (JSC) participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by ZIRAAT BANK (MOSCOW) (JSC) in its financial statements have been discovered.

ACRA provided no additional services to ZIRAAT BANK (MOSCOW) (JSC). No conflicts of interest were discovered in the course of credit rating assignment.

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