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Moody's withdraws ratings of Russia's Akibank, RGS Bank

Moody's on June 15 withdrew its ratings on Russian lenders Joint Stock Commercial Mortgage Bank Akibank (PJSC) and PJSC Rosgosstrakh Bank, citing business reasons.

The agency withdrew Akibank's Caa1/Not Prime long- and short-term local- and foreign-currency bank deposit ratings, "caa1" baseline and adjusted baseline credit assessments and B3(cr)/Not Prime (cr) long- and short-term counterparty risk assessments. The outlook on Akibank's long-term ratings was negative at the time of withdrawal.

Moody's also withdrew the B2/Not Prime long- and short-term local- and foreign-currency bank deposit ratings, "b2" baseline and adjusted baseline credit assessments and B1(cr)/Not Prime(cr) long- and short-term counterparty risk assessments of state-controlled RGS Bank. The long-term ratings had a developing outlook at the time of withdrawal.