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Moody's assigns baseline credit assessments to Vnesheconombank

Moody's on Dec. 12 assigned Russia-based Vnesheconombank "b3" baseline and adjusted baseline credit assessments.

The agency affirmed the bank's long- and short-term issuer ratings at Ba1/NP, with a stable outlook on the long-term rating.

The affirmation of the bank's long-term ratings and the assignment of baseline credit assessment reflect the current balance between its key credit strengths and weaknesses, according to Moody's.

The baseline credit assessment also reflects the bank's large stock of impaired assets and loss-making performance, among other weak solvency metrics, as well as its high reliance on market funding and modest stand-alone liquidity position.