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Moody's revises outlook on Russia's SME Bank

Moody's on June 1 affirmed the Ba2 long-term local- and foreign-currency deposit ratings and local-currency senior unsecured debt rating of Russia-based JSC Russian Bank for Small & Medium Enterprises Support and revised the outlook on the ratings to stable from negative.

The agency also affirmed the bank's NP short-term deposit rating, "b2" baseline and adjusted baseline credit assessments and Ba1(cr)/NP(cr) long- and short-term counterparty risk assessments.

The outlook revision reflects the expectation that the bank's asset quality and profitability metrics will stabilize in 2018 and if any negative pressure should occur, it would only be limited and would be offset by the bank's capital adequacy buffer, the agency said.

Moody's also noted that the bank's capital buffer could absorb any elevated credit losses stemming from its new lending activities. SME Bank's liquidity and funding profiles remain stable, it added.