ACRA withdraws the credit rating of Vozrozhdenie Bank due to contract expiration

Credit rating withdrawal rationale

ACRA has withdrawn its A(RU) credit rating, outlook Stable, previously assigned to Vozrozhdenie Bank. The rating has been withdrawn due to expiration of the contract between ACRA and Vozrozhdenie Bank. The rating has been withdrawn without its concurrent affirmation, as ACRA does not possess sufficient information about the financial standing and operations of Vozrozhdenie Bank.

Regulatory disclosure

The credit rating of Vozrozhdenie Bank was previously 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, Methodology for Analyzing Member Company Relationships Within Corporate Groups, and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of Its Rating Activities.

The credit rating of Vozrozhdenie Bank was first published by ACRA on May 29, 2018.

The credit rating was assigned based on the data provided by Vozrozhdenie Bank, information from publicly available sources, as well as ACRA’s own databases. The rating analysis was performed using the IFRS consolidated statements of Vozrozhdenie Bank and the statements of Vozrozhdenie Bank composed in compliance with Bank of Russia Ordinance No. 4927-U dated October 8, 2018. The credit rating is solicited, and Vozrozhdenie Bank participated in its assignment.

No material discrepancies between the provided data and the data officially disclosed by Vozrozhdenie Bank in its financial statements have been discovered.

ACRA provided no additional services to Vozrozhdenie Bank. No conflicts of interest were discovered in the course of credit rating assignment.

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