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Moody's lowers Kapital Bank view to stable
Moody's Investors Service said it affirmed the Ba3 long-term local- and foreign-currency deposit ratings of Kapital Bank OJSC and changed the outlook to stable from negative.
The agency also said it affirmed the bank's baseline credit assessment and adjusted baseline credit assessment of B1, the bank's long-term and short-term local- and foreign-currency counterparty risk ratings of Ba2/Not Prime, as well as its not-prime short-term local- and foreign-currency bank deposit ratings.
Kapital Bank's long-term and short-term counterparty risk assessments of Ba2(cr)/not-prime(cr) also were affirmed.
The bank's ratings and outlook change to stable reflect both an improved operating environment in Azerbaijan, Moody's said, as well as evidenced resilience of the bank's solvency to external shocks through the cycle.
Despite the challenging economic conditions over recent years, the bank maintained better-than-sector-average asset quality with a problem loan ratio of 6% to 7%, the agency said.
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