Fitch: Credit Bank of Moscow debt B+

Fitch Ratings said it assigned Credit Bank of Moscow's upcoming "new style" subordinated debt issue with write-off features a B+(EXP) expected rating.

Credit Bank of Moscow's "new style" tier 2 subordinated debt issue has been rated one notch lower than the bank's viability rating. This includes: (a) Zero notches for additional non-performance risk relative to the viability rating, as Fitch believes these instruments should only absorb losses once a bank reaches, or is very close to, the point of non-viability; and (b) one notch for loss severity.

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