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Moody's assigns Sovcombank ratings

Moody's on Dec. 21 assigned PJSC Sovcombank B1/Not Prime long- and short-term local- foreign-currency deposit ratings.

Other ratings assigned to the Russian bank include "b1" baseline and adjusted baseline credit assessments and Ba3(cr)/NP(cr) counterparty risk assessments.

The long-term deposit ratings reflect Sovcombank's strong loss-absorption capacity, sound asset quality indicators and adequate funding and liquidity profiles, among other factors.

All long-term deposit ratings carry a stable outlook, reflecting the agency's expectation that the bank's credit profile will not deteriorate over the next 12 to 18 months and Sovcombank will maintain robust profitability, a healthy capital position and resilient liquidity profiles amid a challenging operating environment.