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Moody's changes outlook on RosDorBank's deposit ratings to positive from stable

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Moody's changes outlook on RosDorBank's deposit ratings to positive from stable

Moody's on Oct. 10 changed to positive from stable the outlook on the long-term deposit ratings of Russian Public Joint-Stock Commercial Roads Bank (PJSC), known as RosDorBank.

The positive outlook reflects the agency's expectation that RosDorBank's recent 750 million-Russian-ruble capital increase will improve the credit profile by strengthening its capital adequacy metrics and reducing the credit risks from the bank's concentrated loan book, Moody's said.

The agency also affirmed the bank's B3/Not Prime long- and short-term local- and foreign-currency deposit ratings, "b3" baseline and adjusted baseline credit assessments, B2(cr)/Not Prime(cr) long- and short-term counterparty risk assessment and B2/Not Prime long- and short-term local and foreign currency counterparty risk ratings.

As of Oct. 9, US$1 was equivalent to 64.86 Russian rubles.