Moody's downgrades ratings of 39 Russian financial institutions

Moody's Investors Service has downgraded ratings and assessments of 39 Russian financial institutions, following the downgrade of the Government of Russia's ratings to Ca from B3, with a negative outlook, Report informs referring to Moody’s website.

The changes affected, among all, Alfa-Bank, Credit Bank of Moscow, Gazprombank, Russian Agricultural Bank, Sberbank, Tinkoff Bank, Bank Solidarnost, AO RAIFFEISENBANK, Bank Saint-Petersburg PJSC, Bank Uralsib.

On March 6, Moody's downgraded Russia's rating to "Ca" from "B3".