CREDIT RATING WITHDRAWAL RATIONALE
At the rated entity’s request, ACRA has withdrawn the BBB(RU) credit rating, Stable, that was previously assigned to Asian-Pacific Bank JSC. The rating has been withdrawn without its concurrent affirmation.
regulatory disclosure
The credit rating was previously assigned 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 Asian-Pacific Bank JSC was published by ACRA for the first time on November 20, 2018.
The credit rating was assigned based on data provided by Asian-Pacific Bank JSC, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the consolidated IFRS financial statements of Asian-Pacific Bank JSC and the financial statements of Asian-Pacific Bank JSC drawn up in compliance with Bank of Russia Ordinance No. 4927-U, October 8, 2018. The credit rating is solicited and Asian-Pacific Bank JSC 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 additional services to Asian-Pacific Bank JSC. No conflicts of interest were identified in the course of credit rating assignment.
