CREDIT RATING WITHDRAWAL RATIONALE
ACRA has withdrawn the BBB(RU) credit rating, outlook Stable, which was previously assigned to JSC “Moscow Industrial bank”. The rating has been withdrawn due to the merger of JSC “Moscow Industrial bank” with Promsyazbank PJSC.
REGULATORY DISCLOSURE
The credit rating was previously assigned to JSC “Moscow Industrial bank” under the national scale for the Russian Federation based on the Methodology for Credit Ratings Assignment to Banks and Bank Groups Under the National Scale for the Russian Federation, Methodology for Analyzing Rated Entities Associated with a State or a Group, and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of Its Rating Activities.
The credit rating of JSC “Moscow Industrial bank” was published by ACRA for the first time on August 12, 2019.
The credit rating was assigned based on data provided by JSC “Moscow Industrial bank”, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the IFRS consolidated financial statements of JSC “Moscow Industrial bank” and the financial statements of JSC “Moscow Industrial bank” drawn up in compliance with Bank of Russia Ordinance No. 4927-U dated October 8, 2018. The credit rating is solicited and JSC “Moscow Industrial bank” participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies.
ACRA provided no additional services to JSC “Moscow Industrial bank”. No conflicts of interest were discovered in the course of credit rating assignment.
