Moody's ups Commercial Bank view to stable

Moody's Investors Service said it changed to stable from negative the outlook on the B3 long-term foreign-and local-currency deposit ratings and foreign-currency senior unsecured debt ratings, along with its E+ bank financial strength rating of Commercial Bank Renaissance Capital LLC.

All of its global scale ratings are affirmed at current levels.

The change in outlook reflects the stabilization and improvements of the bank's funding base, profitability, asset quality and franchise, Moody's said, and the reduced likelihood of default.

The agency noted the bank's narrow franchise, saying that refinancing risks remain as the majority of funding is still derived from concentrated corporate deposits and wholesale funding.

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