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Report: ROSENERGOBANK writes down loans to bolster capital

wrote down 1.5 billion Russian rubles of subordinated debtwith interest in order to bolster its core capital ratios, Vedomosti reported Oct. 7.

Thelender's core capital ratio N1.1 fell below 5.125% between Sept. 20 and Sept.27, triggering the write-down decision, the news report said, citing theRussian central bank. The minimum required for the N1.1 ratio is set at 4.5%.

Arepresentative of ROSENERGOBANK said the subordinated loans written down by thelender were provided by its 12 shareholders, each of whom holds no more than10% of the share capital, the newspaper noted.

InSeptember, Moody's changed the outlook on ROSENERGOBANK to negative from stable,pointing to a sharply rising share of restructured loans, Vedomosti said.

As of Oct. 6, US$1 wasequivalent to 62.29 Russian rubles.