ACRA withdraws the credit rating of MCIB Bank LLC at BBB+(RU), outlook Stable, due to completion of the Bank’s merger with PJSC Sovcombank

Analytical Credit Rating Agency (ACRA) has withdrawn the credit rating of MCIB Bank LLC (the Bank) at BBB+(RU), outlook Stable, without affirmation (due to the lack of up-to-date financial data from the Bank), which is caused by the takeover of the Bank by PJSC Sovcombank (A(RU), outlook Stable) completed on November 12, 2018.

Regulatory disclosure

The credit rating was assigned to MCIB Bank LLC 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 and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of Its Rating Activities.

For the first time, the credit rating assigned to MCIB Bank LLC was published on June 19, 2017. The rating was withdrawn on November 13, 2018.

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

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