trending Market Intelligence /marketintelligence/en/news-insights/trending/oYiHSpmx8-8ndTHFvOIdkQ2 content esgSubNav
In This List

Moody's downgrades Bank Asaka's credit assessments

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Moody's downgrades Bank Asaka's credit assessments

Moody's on Sept. 13 downgraded State Joint-Stock Commercial Bank Asaka's baseline and adjusted baseline credit assessments to "b3" from "b2," reflecting a material deterioration in the Uzbekistan-based bank's liquidity profile in the 2017-2018 period, among other factors.

The agency said the downgrade also reflects its expectation for the bank's liquidity position to remain weak in the next 12 months, as well as the bank's growing provisioning charges and weak profitability metrics.

Moody's affirmed the bank's B2/B1 long-term foreign- and local-currency deposit ratings, with the outlook remaining negative. Also affirmed were the bank's B1(cr)/Not Prime(cr) long- and short-term counterparty risk assessments, B1/Not Prime long- and short-term counterparty risk ratings and Not Prime short-term deposit ratings.